Credit Suisse upgrades BPCL to 'outperform'
Credit Suisse upgrades Bharat Petroleum Corp Ltd by two notches to "outperform" citing attractive valuations.
The investment bank says current share price reflects export parity pricing implementation, which should provide a floor to valuations.
"Oil marketing companies can have upside to retail price increases, commodity correction, a milder export-parity-pricing outcome and potential policy clarity," it says in a report on Wednesday.
Credit Suisse also upgrades Hindustan Petroleum Corp Ltd to "neutral" from "underperform" * BPCL is down 3.65 percent while HPCL falls 3.23 percent in a nearly flat market