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In constant currency terms, sales grew 0.2% sequentially and were largely on expected lines. Operating profit, calculated as earnings before interest, taxes, depreciation and amortization (EBITDA), rose 8% sequentially and 4% YoY to Rs 2,144 crore, the company said.

On the options front, the weekly maximum Call OI is placed at 18000 and then towards 18200 strikes while the weekly maximum Put OI is placed at 17000 and then towards 17500 strikes.

A total of 2,793 shares changed hands on the counter till 10:30AM (IST)

Given this is a thematic opportunity, any allocation should be done only after a thorough assessment of one’s risk appetite, and financial goals and a cautious evaluation of the investment opportunity, and typically, the allocation may not be more than 5-10% of one’s equity allocation, Shami said.

The stock traded at a P/E multiple of 12.45, while the price-to-book value ratio stood at 1.18.

Bharat Petroleum Corporation, incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 72691.66 Crore) operating in Gas & Petroleum sector.

The Relative Strength Index of the stock stood at 23.45 on Tuesday.

Morgan Stanley maintained an Equal-Weight rating on PNB post December quarter results with a target price of Rs 60. The global investment bank expects continued gradual improvement. PAT missed MSE, given higher NPA provisions. Gradual recovery remains on track, said the note.

Interest-rate futures indicate market expectations for a 25 basis point (bp) hike from the Federal Reserve to take the Fed funds rate window to 4.5%-4.75%. Pricing suggests two more 25 bp hikes are expected, before cuts arrive later in the year.

The total valuation of India’s stocks has dropped to $3.2 trillion, or 3.1% of the global share market capitalization. That proportion climbed to as high as 3.6% last year as the Asian nation overtook the UK to become the world’s fifth-largest equity market.