Harshad Katkar's Comment & Analysis
A complete archive of Harshad Katkar's articles, including current analysis & comment.
ONGC (NSE:ONGC): We maintain our REDUCE rating on ONGC, with a revised target price of INR 245, given: (1) limited upside potential for ONGC’s crude price realisation in the current environment, (2)...
Indian Oil Corporation (NSE:IOC): Our REDUCE rating on Indian Oil Corporation (IOCL), with a target price of INR 124, is premised on margin pressure due to increasing petchem supplies/capacity, lower...
Reliance Industries (NS:RELI): Our ADD rating on Reliance Industries (RIL) with a price target of INR 1,670/sh is premised on (1) recovery in the O2C margins, (2) EBITDA growth in the digital...
Reliance Industries (NS:RELI): Our ADD rating on Reliance Industries (RIL) with a price target of INR 3,350/sh is premised on (1) recovery in the O2C business, (2) EBITDA growth in the digital...
ONGC (NS:ONGC):
We maintain our REDUCE rating on ONGC, with a target price of INR 286, given: (1) limited upside potential for ONGC’s crude price realisation in the current environment with a levy...
Indian Oil (NS:IOC) Corporation: Our REDUCE rating on Indian Oil Corporation (IOCL), with a target price of INR 163, is premised on margin pressure due to increasing petchem supplies/capacity,...
Petronet LNG (NS:PLNG): Our REDUCE recommendation on Petronet LNG (PLNG) with a TP of INR 265 is based on: (1) limited visibility of near-term earnings growth, (2) an increased capex outlook, and (3)...
Oil India (NS:OILI): Our ADD recommendation on Oil India with a target price of INR 680 is premised on oil production growth at 9% CAGR and gas production growth at 26% CAGR over FY24-26E. Q4FY24...
Gail (India) (NS:GAIL): Our BUY recommendation for GAIL with a target price of INR 212 is based on (1) an increase in gas transmission volume to 132/142mmscmd by FY25/26 on the back of an increase in...
Bharat Petroleum (NS:BPCL) Corporation: We maintain our REDUCE rating on Bharat Petroleum (BPCL), with a target price of INR 550, owing to the risk of (1) lower auto-fuel marketing margins and (2)...