CLSA Bullish on Oil and Gas Stocks; Here are its pics

The brokerage has increased its target price on BPCL from Rs 360 to Rs 440. Oil market shares closed up 2.88% at Rs 414.40 on Friday.



New Delhi (Natural Energy News): Foreign brokerage CLSA is huge on some stocks in the oil and gas sector and has also increased its mark price on them. It favors Mahanagar Gas, GAIL India, Gujarat Gas and Hindustan Petroleum Corporation Limited (HPCL) from the region.


Related Article: Government suspects BPCL's attempt to reduce share price


It further noted that large gains in crude oil and refining margins are likely to be limited due to continued concern over the recovery pace of demand. In addition, CLSA prefers the oil and gas market over producers because the price of liquefied natural gas may cool down after the winter season.

The brokerage has increased its target price on BPCL from Rs 360 to Rs 440. Oil market shares closed up 2.88% at Rs 414.40 on Friday.


Further, it increased the target on HPCL from Rs 225 to Rs 270. The shares of the company were last traded at Rs 230.20 on the NSE.

CLSA raised its price target on GAIL (India) from Rs 125 to Rs 170. The shares of the company on Friday were down by Rs 139.20, declining by 3.3% to announce buyback and dividend approval.


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The brokerage has outperformed Oil India and increased the target price from Rs 60 to Rs 120. However, it has reduced Indraprastha Gas shares from Rs 525 to Rs 615.

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