HSBC in their report on RPL,We have upgraded our regional refining margin forecasts to USD9/bbl (FY08), USD9.3/bbl (FY09) & USD6.5/bbl long term
RPL with its high complexity and superior product slate could gain the most from expected robustness in margins
We have raised our target price to INR144/share (INR87/share earlier) and upgraded RPL to Overweight