Credit Suisse: BPCL, HPCL, IOC slip as CS initiates coverage with 'Underperform' - The TheIndianSubcontinentNever miss a great news story!Get instant notifications from TheIndianSubcontinentAllowNot nowYou can switch off notifications anytime using browser settings.Stock Analysis, IPO, Mutual Funds, Bonds - MoreCredit Suisse has set target price of Rs 300 for BPCL and Rs 250 for HPCL.
ETMarkets.com|Updated: Jul 24, 2019, 10.29 AM ISTReutersThe global financial services firm expects marketing volume growth to slow down amid heavy capex cycle ahead for OMCs.Shares of Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation (IOC) plunged up to 4 per cent in early trade on Wednesday after Credit Suisse initiated coverage on oil marketing companies with ‘Underperform’ rating. The global financial services firm expects marketing volume growth to slow down amid heavy capex cycle ahead for OMCs. Credit Suisse has set target price of Rs 300 for BPCL and Rs 250 for HPCL.
Shares of BPCL declined as much as 3.94 per cent to Rs 345 in early trade, while HPCL and IOC were down 4.61 per cent and 1.50 per cent, respectively. Commenting feature is disabled in your country/region.Browse CompaniesABCDEFGHIJKLMNOPQRSTUVWXYZ|123456789To see your saved stories, click on link hightlighted in bold