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Hindustan Petroleum Corporation Ltd BSE:500104 NSE:HINDPETRO

Hindustan Petroleum Corporation Ltd is engaged in Oil and Gas business. Company is listed on both NSE and BSE. NSE symbol for Hindustan Petroleum Corporation Ltd is 'HINDPETRO' and BSE code for Hindustan Petroleum Corporation Ltd is '500104'.

About Company

Hindustan Petroleum Corporation Limited is an integrated oil refining and marketing company in India. The Company`s two refineries at Mumbai and Visakhapatnam processed 13.82 million metric tons (MMT) of crude oil during the fiscal year ended March 31, 2006 (fiscal 2006). Of this 3.32 MMT was from indigenous source, while the balance quantity of 10.5 MMT was imported. HPCL has branded its retail outlets under the name Club HP. During fiscal 2006, 771 outlets were branded as Club HP, taking the total number to 3018 as on March 31, 2006. In fiscal 2006, Turbojet was added at 1177 retail outlets, taking the total number to 2537 as on March 31, 2006. The liquefied petroleum gas (LPG) business line accounts for approximately 11% of the total volume base of HPCL. Its industrial and consumer business line meets the requirement of a range of direct consumers of fuels, special products and bitumen.

Hindustan Petroleum Corporation Ltd Stock Quotes and Charts

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  Website   http://www.hindustanpetroleum.com
  Industry*   Oil and Gas
  Corporate Action  Detail/More>>
  Ex_Date:08-Sep-2011    Purpose:DIVIDEND-RS.14/- PER SHARE

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Hindustan Petroleum Corporation Ltd User Reviews

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1. Insight technical  Dec 17, 2009 11:53:28 AM IST Reply

Hindustan Petroleum<br>Hold<br>Price: Rs381 Target Price (Mar 11): Rs432<br><br>Pricing in the best case…<br><br>* GRMs likely to continue to remain low: Given the global refining<br>capacity additions (29 new refineries adding c. 10 mn. barrel capacity<br>by 2015) and the likely low demand, we believe that GRMs are likely to<br>remain low for the next one-two years. We assume $3.5/barrel for<br>FY10E and $4/barrel for FY11E and FY12E each to reflect the refining<br>complexity and product slate of HPCL. The company enjoyed<br>$3.71/barrel GRM in 1H10, when Singapore GRMs averaged<br>$3.83/barrel. We factor in a 2% refining volume growth for HPCL.<br><br>* Marketing margins to remain stable: The normalised marketing<br>margins earned by HPCL are likely to remain stable in the near term at<br>c. 1911 / ton. We expect under-recoveries of only Rs60 bn for FY10E,<br>falling to Rs40bn for FY11E and FY12E each. We assume that this will<br>be adjusted by way of bonds resulting into normalized marketing<br>margins for HPCL. A higher GRM/crude is likely to either put pressure<br>on marketing margins or lead to additional bonds or result in higher<br>end-product prices. Our volume assumptions factor in a growth of 1%<br>in FY10 followed by a 5% increase in marketing volumes on the back of<br>improving economic scenario in FY11E and FY12E.<br><br>* Downgrade to Hold: We increase FY10E EPS by 52% to reflect the<br>lower crude. We also introduce FY12E EPS of Rs37. Our estimates are<br>lower than consensus for FY11E and FY12E, probably due to lower<br>margins assumptions. We arrive at Mar-11 target price of Rs432, based<br>on peak price/book (x) of 1x FY12E book value and Rs54/share for<br>MRPL. We believe our use of 1x P/B reflects OMCs best case ROE to be<br>in line with COE, even though government`s ability and willingness to<br>de-control oil prices is debatable. The stock is already reflecting this<br>outcome and we do not see further upsides. Hence, we downgrade to<br>HOLD.

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