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BPCL - Unfavorable Risk-Reward: HDFC Securities

We downgrade BPCL to a REDUCE from a Buy, with a target price of Rs 475/sh, owing to the risk of

<div class="paragraphs"><p>BPCL signage at petrol pump.&nbsp; (Photo: Vijay Sartape/NDTV Profit) </p></div>
BPCL signage at petrol pump.  (Photo: Vijay Sartape/NDTV Profit)
NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
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