Stocks of Hindustan Petroleum Corporation Limited (HPCL), Bharat Petroleum Corporation Limited (BPCL) and Indian Oil Corporation Limited (IOCL) have more headroom left despite the sharp run in the last few weeks, suggests a recent report from Morgan Stanley.
Stocks of these oil refining and marketing companies (OMCs), it believes, are seeing multiples re-rate as investors reassess long-term growth prospects. IOCL trades at one year forward P/BV of 1.2x, 19 per cent below +1 standard deviation (SD); BPCL trades at one year forward P/BV of 1.5x, near historical averages; HPCL trades at one year forward P/BV of 1.5x, near +1SD, Morgan Stanley said.
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From the 10th Gujarat Literature Festival to the screening of Priya Thuvassery's film Coral Woman, here are the events taking place in Gujarat this week.
What do you get when you mix zombies, mullets, and slam poetry? In UTS’ 2023 People of Colour (POC) Revue, a bunch of ethnic people having some good ol’ fun.