Emkay Global Financial is bullish on HPCL has recommended buy rating on the stock with a target price of Rs 500 in its research report dated January 26, 2024.
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Hindustan Petroleum Corp: State-owned HPCL buys fuels from refiners such as Mangalore Refinery and Petrochemicals, Nayara Energy and Reliance Industries as its domestic sales are higher than the output from its two refineries at Mumbai in western India and Vizag in the southern state of Andhra Pradesh.