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.
Shares of Indian Oil Corporation managed to hit its new 52-week highs at Rs 88.61, commanding a market capitalization of little more than Rs 1.25 lakh crore.