Jefferies: BPCL Stock Poised for 19% Gain on Robust Outlook

• Jefferies re-rated Bharat Petroleum (BPCL) to 'buy' with a target price of ₹435, expecting over 19% upside.
• The positive outlook is driven by stable crude oil prices, strong refining margins, and improving earnings trends.
• BPCL's marketing margins for diesel (₹5.7/liter) and petrol (₹9.6/liter) are exceptionally strong.
• Government's ₹30,000 crore compensation for LPG losses, with BPCL receiving ₹7,600 crore, will significantly boost earnings.
• The stock is currently trading at an attractive valuation of 1.5x forward price-to-book, below its long-term average.

Why It Matters: BPCL stock could climb 19% from strong financials and analyst 'buy' rating.