Confidence Petroleum India: Upside of 67%; Buy

None | Jan. 16, 2019, 12:01 p.m.


We initiate coverage on Confidence Petroleum India Ltd as a BUY for a target of Rs. 77 (18x FY21, a discount of 16% to the median PE 21.5X). This represents an upside of 67% from the CMP of Rs.46.3.

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