{"id":534423,"date":"2022-11-05T10:09:55","date_gmt":"2022-11-05T04:39:55","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=534423"},"modified":"2022-11-05T10:09:55","modified_gmt":"2022-11-05T04:39:55","slug":"after-a-weak-q2-icici-securities-maintains-reduce-rating-on-hpcl","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/after-a-weak-q2-icici-securities-maintains-reduce-rating-on-hpcl\/","title":{"rendered":"After a weak Q2, ICICI Securities maintains reduce rating on HPCL"},"content":{"rendered":"<p>After the state-run oil marketing company HPCL NSE -3.53 % reported weak quarterly numbers for the September quarter, domestic brokerage ICICI Securities NSE 2.44 % maintained its reduce rating on the counter with a target price of Rs 186, a downside of over 8% from the current market price of Rs 203.<\/p>\n<p>In the quarter ended September, the company reported a weak operating performance with a recurring EBITDA loss of Rs 712 crore and a net loss of Rs 779 crore. The brokerage attributes the weakness to the $8.4\/bbl QoQ dip in gross refining margins or GRMs and continuing losses in marketing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After the state-run oil marketing company HPCL NSE -3.53 % reported weak quarterly numbers for the September quarter, domestic brokerage ICICI Securities NSE 2.44 % maintained its reduce rating on the counter with a target price of Rs 186, a downside of over 8% from the current market price of Rs 203. In the quarter ended September, the company reported a weak operating performance with a recurring EBITDA loss of Rs 712 crore and a net loss of Rs 779 crore. The brokerage attributes the weakness to the $8.4\/bbl QoQ dip in gross refining margins or GRMs and continuing losses [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-534423","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/534423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=534423"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/534423\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=534423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=534423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=534423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}