External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<div><div><div><ul><li>Imposition of a SAED of INR 6/ltr (USD 12/bbl) on exports of petrol and ATF <span style="font-size: var(--content-font-size);">and INR 13/ltr (USD 27/bbl) on exports of diesel.</span></li></ul></div></div><div><div><div><div><ul><li>Levy of a SAED of INR 23,250/mt (USD 40/bbl) on domestically produced <span style="font-size: var(--content-font-size);">crude oil. </span></li><li><span style="font-size: var(--content-font-size);">However, no cess will be imposed on the quantity of crude that is </span><span style="font-size: var(--content-font-size);">produced in excess of FY22 production.</span></li></ul></div></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Imposition of a SAED of INR 6/ltr (USD 12/bbl) on exports of petrol and ATF and INR 13/ltr (USD 27/bbl) on exports of diesel.Levy of a SAED of INR 23,250/mt (USD 40/bbl) on domestically produced crude oil. However, no cess will be imposed on the quantity of crude that is produced in excess of FY22 production.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Indian Oil and Gas Sector - Subsidy Overhang to Reduce

<div><div><div><ul><li>Bharat Petroleum Corporation: Our BUY rating on Bharat Petroleum (BPCL), with a target price of INR 375, is premised on (1) recovery in domestic demand for petroleum products,</li></ul><div><div><ul><li>NHPC: NHPC’s revenue increased 12.2% YoY to INR15.1bn in Q4FY22, led by 9.3% YoY rise in generation. PAF for Q4FY22 was 76.7%, vs 74.33% YoY.</li></ul><div><div><div><ul><li>AshokaBuildcon: Ashoka Buildcon (ASBL) reported revenue/ EBITDA/APATof INR 15.6/1.6/1.8bn, an EBITDA miss on our estimate.</li></ul></div></div></div></div></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Bharat Petroleum Corporation: Our BUY rating on Bharat Petroleum (BPCL), with a target price of INR 375, is premised on (1) recovery in domestic demand for petroleum products,NHPC: NHPC’s revenue increased 12.2% YoY to INR15.1bn in Q4FY22, led by 9.3% YoY rise in generation. PAF for Q4FY22 was 76.7%, vs 74.33% YoY.AshokaBuildcon: Ashoka Buildcon (ASBL) reported revenue/ EBITDA/APATof INR 15.6/1.6/1.8bn, an EBITDA miss on our estimate.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily - Bharat Petroleum Corporation, NHPC, Ashoka Buildcon, Kolte Patil Developers

External broker reports(aggregated public sources), Nirmal Bang

Nirmal Bang

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Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

<ul><li>GAIL bucks energy storm hitting sector demand and margins. We see GAIL lead the Oil &amp; Gas pack even as the rest of the sector companies are trapped in the crosswinds of a sharp spike in crude oil, natural gas and product prices.</li><li>The surge in the Oil &amp; Gas chain prices sustained through April21 to mid-natural gas, especially LNG.</li><li>This has been fueled further by the Russia-Ukraine conflict, which has led to a scramble for crude oil, gas and diesel, with Russian exports (5mn bpd of oil...(continued).</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

GAIL bucks energy storm hitting sector demand and margins. We see GAIL lead the Oil &amp; Gas pack even as the rest of the sector companies are trapped in the crosswinds of a sharp spike in crude oil, natural gas and product prices.The surge in the Oil &amp; Gas chain prices sustained through April21 to mid-natural gas, especially LNG.This has been fueled further by the Russia-Ukraine conflict, which has led to a scramble for crude oil, gas and diesel, with Russian exports (5mn bpd of oil...(continued).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Oil & Gas Sector: GAIL Bucks Energy Storm Hitting Sector Demand and Margins

Equity Bottom-Up

<ul><li>The Bharat Petroleum Corporation (BPCL) stock rallied ~33% and outperformed the Sensex by ~22% over the last 6M</li><li>However, we believe the current market price is still factoring in very optimistic earnings growth on the back of a very strong FY24</li><li>With crude oil prices rising by ~5% from average prices seen in Q4FY24 and rising ~12% to over USD 86/bbl over the last month, we expect this to adversely impact BPCL’s marketing segment profitability, going ahead</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

The Bharat Petroleum Corporation (BPCL) stock rallied ~33% and outperformed the Sensex by ~22% over the last 6MHowever, we believe the current market price is still factoring in very optimistic earnings growth on the back of a very strong FY24With crude oil prices rising by ~5% from average prices seen in Q4FY24 and rising ~12% to over USD 86/bbl over the last month, we expect this to adversely impact BPCL’s marketing segment profitability, going aheadContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BPCL: Demanding Valuation. Maintain REDUCE

External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

Prabhudas Lilladher is one of India's leading research based financial services organisation.

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul>
<li>Prabhudas Lilladher's research report onBharat Petroleum Corporation Bharat Petroleum Corporation (BPCL) reported better than expected Q4FY24 results with an EBITDA of Rs92.1 bn (up 48% QoQ, PLe: Rs85.8 bn).</li>
<li>Adj PAT came in at Rs55.7 bn (up 64% QoQ, PLe: Rs48.4 bn).</li>
<li>The company reported a moderate GRM at US$12.5/bbl.</li>
</ul>
<p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>


Prabhudas Lilladher's research report onBharat Petroleum Corporation Bharat Petroleum Corporation (BPCL) reported better than expected Q4FY24 results with an EBITDA of Rs92.1 bn (up 48% QoQ, PLe: Rs85.8 bn).
Adj PAT came in at Rs55.7 bn (up 64% QoQ, PLe: Rs48.4 bn).
The company reported a moderate GRM at US$12.5/bbl.

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Bharat Petroleum Corporation - Operating Profit Improves Sequentially

India

Bharat Petroleum Corporation Limited (BPCL) is an Indian public sector oil and gas company involved in refining crude oil and marketing petroleum products, with significant presence in the upstream and downstream sectors. It operates refineries and an extensive marketing and distribution network across India, offering products such as petrol, diesel, LPG, and lubricants. The company is headquartered in Mumbai, Maharashtra, India, and was formed in 1976 through the nationalization of Burmah Shell.

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Bharat Petroleum (BPCL IN)

Indian Oil and Gas Sector - Subsidy Overhang to Reduce

Reliance Industries (RIL), ONGC and Oil India (OIL) stocks declined 7-15% on 1st Jul-22 as investors took a dim view of the new levies applied on...

HDFC Securities

HSIE Results Daily - Bharat Petroleum Corporation, NHPC, Ashoka Buildcon, Kolte Patil Developers

NHPC’s revenue increased 12.2% YoY to INR15.1bn in Q4FY22, led by 9.3% YoY rise in generation. PAF for Q4FY22 was 76.7%, vs 74.33% YoY.

HDFC Securities

Oil & Gas Sector: GAIL Bucks Energy Storm Hitting Sector Demand and Margins

GAIL bucks energy storm hitting sector demand and margins. We see GAIL lead the Oil & Gas pack even as the rest of the sector companies are trapped...

Nirmal Bang

BPCL: Demanding Valuation. Maintain REDUCE

With crude oil prices rising by ~5% from average prices seen in Q4FY24 and rising ~12% to over USD 86/bbl over the last month, we expect this to...

HDFC Securities

Bharat Petroleum Corporation - Operating Profit Improves Sequentially

Prabhudas Lilladher's research report onBharat Petroleum Corporation Bharat Petroleum Corporation (BPCL) reported better than expected Q4FY24...

Prabhudas Lilladhar

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