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Tuesday, June 26, 2007

HSBC - RPL - June 22 2007


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