INSUBCONTINENT EXCLUSIVE:
The share prices made a new 52-week low in the process.
At 12.32 pm, the stock was down 5.83 per cent to Rs 1,086
It touched a 52-week low of Rs 1,049.50 during the day.
The scrip has fallen 28 per cent in the current calendar year, making a dent of
the stock to Rs 1,840, implying 60 per cent upside from the current levels in the next 12 months.
The brokerage said the steep decline in
an opportunity to investors to buy the energy business apparently for free, as the current market-cap is 10 per cent below our SoTP (sum of
cent from the recent highs, due to concerns of Covid-19 impact on demand for refined products and petrochemicals, depressing margins, lower