Reuters logo
BUZZ-India's HPCL falls as Q2 profit misses estimate
November 10, 2017 / 4:53 AM / a month ago

BUZZ-India's HPCL falls as Q2 profit misses estimate

** State-owned oil refiner Hindustan Petroleum Corp Ltd’s shares fall as much as 2.3 pct to 421.70 rupees

** Co’s Q2 profit fell short of analysts’ estimates but more than doubled compared to last year, to 17.35 bln rupees ($266.68 mln)

** “HPCL’s Q2 net profit was 22 pct below Jefferies estimates,” Jefferies analysts write in a note

** Realizsd refining margins were $0.50 lower than estimates but much of the miss came from the apparent fall in non-auto marketing margins - Jefferies

** Jefferies cuts stock’s price target to 385 rupees from 400 rupees, maintains “underperform” rating

** Nineteen of 37 brokerages rate the stock “buy” or higher, seven “hold” and 11 “sell” or lower; median PT is 442.33 rupees - Thomson Reuters Eikon data

** Stock on track for a third straight session of losses

$1 = 65.0600 Indian rupees

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below