HPCL share price soars 8%: Jefferies says BUY, pegs target at Rs 370
Jefferies says that HPCL reported a significant EBITDA beat on much higher inventory gains in refining and marketing than we expected. Marketing volume growth was sharply ahead of industry growth. Marketing profitability is likely to be restored as crude cools and retail price hikes continue
Jefferies says that Marketing EBITDA was aided by inventory gains of Rs 29.5 bn. Marketing volume +6.3% yoy against +2.5% for industry: Reuters