Nirmal Bang

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

A Relationship Beyond Broking

External broker reports(aggregated public sources), Nirmal Bang

External broker reports(aggregated public sources)

Equity Bottom-Up

<div><ul><li>Refining crack spread over crude: HSD crack stood at US$22/bbl in 4QFY22 vs US$12.61/bbl in 3QFY22.</li></ul><div><ul><li>Retail prices/margins: The management expects retail price revision to take place if the current geopolitical situation turns out to be a prolonged one.</li></ul><div><ul><li>BPCL envisages to become net zero by 2040 - <span style="font-size: var(--content-font-size);">Bina refinery plans to produce 1GW of green hydrogen in 5 years - will require capex of Rs5,000mn; long-term target of 10GW by 2040.</span></li></ul></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Refining crack spread over crude: HSD crack stood at US$22/bbl in 4QFY22 vs US$12.61/bbl in 3QFY22.Retail prices/margins: The management expects retail price revision to take place if the current geopolitical situation turns out to be a prolonged one.BPCL envisages to become net zero by 2040 - Bina refinery plans to produce 1GW of green hydrogen in 5 years - will require capex of Rs5,000mn; long-term target of 10GW by 2040.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Bharat Petroleum Corporation - BPCL Management Meeting