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    BPCL   INE029A01011

BHARAT PETROLEUM CORPORATION LIMITED

(BPCL)
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India's gasoil demand dips in first half of November - data

11/16/2021 | 04:31am EST
FILE PHOTO: A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai

NEW DELHI (Reuters) - India's gasoil demand contracted by about a fifth during the first fifteen days of November from the pre-COVID levels, after a festive season led brief recovery last month, preliminary sales data of state-run refiners showed.

India's gasoil consumption, which accounts for about two-fifths of the country's fuel demand, typically rises during a month-long festival season that ended earlier this month with the celebration of Diwali as diesel-guzzling trucks hit the road and industrial activity gathers pace.

Gasoil consumption totalled 2.43 million tonnes between Nov. 1-15, a decline of about 15.3% from last year and down 19.35% from the same period in 2019, the data showed.

In contrast, gasoline sales continued to stay above pre-COVID levels, rising to 1.04 million tonnes, as people continued to prefer using personal vehicles over public transport for safety reasons.

Gasoline sales in the first half of November were up 1.2% from the same period in 2019 and rose by 0.5% from last year, the data showed.

State retailers - Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp - control about 90% of the fuel stations in the country.

(Reporting by Nidhi Verma; Editing by Shailesh Kuber)

By Nidhi Verma


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BHARAT PETROLEUM CORPORATION LIMITED -2.89% 381.7 Delayed Quote.1.97%
HINDUSTAN PETROLEUM CORPORATION LIMITED -4.48% 310.5 Delayed Quote.11.19%
INDIAN OIL CORPORATION LIMITED -3.03% 121.7 Delayed Quote.12.56%
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Financials
Sales 2022 3 379 B 45 405 M 45 405 M
Net income 2022 91 728 M 1 233 M 1 233 M
Net Debt 2022 442 B 5 945 M 5 945 M
P/E ratio 2022 8,65x
Yield 2022 4,75%
Capitalization 853 B 11 469 M 11 457 M
EV / Sales 2022 0,38x
EV / Sales 2023 0,39x
Nbr of Employees 9 251
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Number of Analysts 32
Last Close Price 393,05 INR
Average target price 535,66 INR
Spread / Average Target 36,3%
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Arun Kumar Singh Chairman & Managing Director
Ramakrishna Gupta Vetsa CFO, Finance Director, Director & Head-Treasury
P. Anilkumar Executive Director-Information Systems
Ravikumar V. Chief General Manager-Research & Development
Chacko M. Jose Chief General Manager-Kochi Refinery Operations
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