Oil prices dropped as investors monitored developments in the Red Sea, where shippers are returning after the US and the UK navy started patrolling against the attack from Houthi rebels.
Hindustan Petroleum Corporation Ltd., incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 52635.24 Crore) operating in Gas & Petroleum sector.
Not only will Modi Naturals deliver on the ethanol requirements, but the byproducts generated during the production process will also be sold separately, contributing to additional revenues. This cumulative volume of 3.72 Crore Litres, combined with the byproducts from production, sets the stage for a remarkable Total Revenue potential of 275 Crores, the company said in a release.
India achieved its target of 12% ethanol blend for supply year 2022-23 but may miss its 15% target for 2023-24 unless grain-based ethanol production is ramped up.
Dolat has a target price of ₹550 for BPCL, implying an over 25% upside. Meanwhile, it has targets of ₹450 and ₹137 for HPCL and IOC, indicating a 30% and 18% upside, respectively.