HPCL soars on the buzz of purchasing 120,000 tonnes petrol for September-October delivery

27 Aug 2019

Hindustan Petroleum Corporation (HPCL) is currently trading at Rs. 260.15, up by 7.90 points or 3.13% from its previous closing of Rs. 252.25 on the BSE.

The scrip opened at Rs. 253.10 and has touched a high and low of Rs. 261.70 and Rs. 252.20 respectively. So far 123951 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 333.45 on 03-Jun-2019 and a 52 week low of Rs. 163.45 on 05-Oct-2018.

Last one week high and low of the scrip stood at Rs. 261.70 and Rs. 223.95 respectively. The current market cap of the company is Rs. 39139.38 crore.

The promoters holding in the company stood at 51.11%, while Institutions and Non-Institutions held 36.86% and 12.02% respectively.

Hindustan Petroleum Corporation is reportedly seeking more gasoline after having purchased more than 120,000 tonnes of the fuel for September to early October delivery from the spot market to plug a supply gap. The company has been actively seeking petrol from the spot market this year as Indian refiners undergo maintenance and upgradation to produce cleaner fuels.

HPCL is an Indian state-owned oil and natural gas company with its headquarters at Mumbai, Maharashtra. It has about 25% marketing share in India among PSUs and a strong marketing infrastructure.

Related Hindustan Petroleum Corporation Ltd. Links:

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