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Credit Suisse upgrades BPCL to 'outperform'

Reuters Market Eye - Credit Suisse upgrades Bharat Petroleum Corp Ltd(NSI:BPCL.NS - News) by two notches to "outperform" citing attractive valuations.

The investment bank says current share price reflects export parity pricing implementation, which should provide a floor to valuations.

"Oil marketing companies can have upside to retail price increases, commodity correction, a milder export-parity-pricing outcome and potential policy clarity," it says in a report on Wednesday.

Credit Suisse also upgrades Hindustan Petroleum Corp Ltd (NSI:HINDPETRO.NS - News) to "neutral" from "underperform" * BPCL is down 3.65 percent while HPCL falls 3.23 percent in a nearly flat market

(Reporting by Abhishek Vishnoi)