HPCL, BPCL, Indian Oil: Brokerage Sees 52% Upside in THIS Oil-Gas Stock; Should You Buy? Check Target Price

Stocks To Buy In Oil and Gas Sector: Improved earnings visibility and robust refining and marketing fundamentals have improved valuations for oil and marketing companies like Hindustan Petroleum Corporation, Bharat Petroleum Corporation, and Indian Oil Corporation, according to Antique Stock Broking Limited.

The brokerage, on Wednesday, has reiterated its 'Buy' call on these three oil marketing companies (OMCs). HPCL shares closed 401.8 per share on BSE on Tuesday, whereas Indian Oil Corporation shares surged 0.66% higher and closed at Rs 144.95 per share. Likewise, the Bharat Petroleum Corporation (BPCL) stock closed at Rs 318.25 per share.

Stocks To Buy In OMC Sector

Although the outlook for 2026 may be a bit of a challenge due to factors such as weak crude oil fundamentals, the risk of excise, and global headwinds. But strong global refining fundamentals

"Valuations remain very attractive at EV/EBITDA of 4.4-4.7x 1HFY28 as well as adjusted P/B of 0.8x-1.3x. Reiterate BUY on all 3 OMCs; HPCL top pick due to Vizag GRM upside on bottom upgradation," noted brokerage Antique Stock.

Hindustan Petroleum Target Price

The stock valuation has increased by 7.79% year-to-date (YTD). The brokerage has maintained a 'Buy' rating for the stock and fixed a target price of Rs 615 per share. It has indicated an upside of more than 50% in long term. The brokerage has also kept its target FY28e EV/EBITDA multiple at 6.5x and has not made any revisions to its EBITDA estimates for FY26, FY27, and FY28.

Indian Oil Corporation Target Price

Indian Oil Corporation's share price value has increased around 5.76% since the beginning of the year 2025, ie year to, date.The brokerage has given a 'buy' rating for the stock with a target price of Rs 195 per share in the long-term. The target FY28e EV/EBITDA multiple is maintained at 6x, and the EBITDA estimates for FY26, FY27, and FY28 remained unchanged by the brokerage.

Bharat Petroleum Target Price

The stock's valuation has increased around 7.96% since the beginning of the year 2025. The brokerage has given a 'Buy' rating for the stock and maintained its target price of Rs 455 for long-term. The target FY28e EV/EBITDA multiple remains at 6.5x, and there have been no revisions to the EBITDA estimates for FY26, FY27, and FY28.

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