Archive · 13 Dec 2025
Jefferies Predicts 22% Upside for Bharat Petroleum
Jefferies, a global brokerage, thinks Bharat Petroleum (BPCL) is a good stock to buy.
They say the stock could go up by 22% to Rs 435.
This is because oil prices are stable, and BPCL is making more money from refining oil and selling fuel.
The company also gets money from the government to cover past losses on cooking gas (LPG).
Right now, the stock is cheaper than usual, making it a good deal.
Jefferies has given a 'Buy' rating to Bharat Petroleum (BPCL) with a target price of Rs 435, indicating a 22% upside.
Stable crude oil prices and strong refining margins are expected to boost BPCL's earnings.
Refining margins have surged 51% year-over-year in YTDFY26, contributing significantly to operating profit.
Marketing margins for diesel and petrol are tracking above normal levels, adding to earnings.
The government's compensation for past LPG losses will boost BPCL's earnings in the next fiscal years.
- Who
- Bharat Petroleum Corporation Limited (BPCL)
- What
- Jefferies has given a 'Buy' rating with a target price of Rs 435, predicting a 22% upside.
- When
- The report is based on current market conditions and future projections.
- Where
- The analysis is global, focusing on BPCL's operations and market position.
- Why
- The prediction is based on stable crude oil prices, strong refining margins, and improved earnings visibility.
- Company
- Bharat Petroleum (BPCL)
- Brokerage
- Jefferies
- Target Price
- Rs 435
- Current Market Price
- Approx. Rs 356 (implied)
- Potential Upside
- 22%
- Refining Margins Increase
- 51% year-over-year in YTDFY26
- Marketing Margins
- Rs 5.7/ltr (diesel), Rs 9.6/ltr (petrol) in YTDFY26
- LPG Compensation
- Rs 76 billion from government