IDBI Capital: HPCL’s First -Ever Buyback A Positive
Attendants wait for customers at a Hindustan Petroleum Corp. gas station in Bengaluru, India. (Photographer Lakshmi Samyukta/Bloomberg)

IDBI Capital: HPCL’s First -Ever Buyback A Positive

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

IDBI Capital Report

Hindustan Petroleum Corporation Ltd.’s Q2 FY21 result was largely in line with our forecast while it was a beat to consensus estimates.

Higher inventory gains and gross refining margin were partially offset by lower volumes.

Reported GRM came at $5.1/barrel of oil owing to inventory gain of Rs 5.2 billion ($2.4/bbl) while core GRM stood at $2.8/bbl, beat our estimate.

Click on the attachment to read the full report:

IDBI Capital HPCL Q2FY21 Result Update.pdf

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