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Hindustan Petroleum surges on plans to purchase 40,000 barrels per day of Basra light oil

24 May 2013 Evaluate

Hindustan Petroleum is currently trading at Rs. 288.35, up by 3.65 points or 1.28% from its previous closing of Rs. 284.70 on the BSE.

The scrip opened at Rs. 287.15 and has touched a high and low of Rs. 291.80 and Rs. 284.75 respectively. So far 70886 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 381.40 on 18-Jan-2013 and a 52 week low of Rs. 275.30 on 26-Nov-2012.

Last one week high and low of the scrip stood at Rs. 321.80 and Rs. 283.10 respectively. The current market cap of the company is Rs. 9752.46 crore.

The promoters holding in the company stood at 51.11% while Institutions and Non-Institutions held 33.81% and 15.08% respectively.

Hindustan Petroleum Corp (HPCL) is likely to purchase up to 40,000 barrels per day (bpd) of Basra light oil from France's Total at a discount to the official selling price. It will lift 15,000 bpd of the Iraqi oil with an option to buy another 25,000 bpd. It has halted imports from Iran and plans to cut purchases from Saudi Arabia because of insurance problems triggered by western sanctions.

The company is also looking to buy 60,000 bpd from Iraq's State Oil Marketing Organisation (SOMO) compared to 40,000 bpd last year. HPCL operates a 166,000 bpd Vizag refinery in southern India and a 130,000 bpd plant in western Maharashtra state.

HPCL Share Price

373.85 -0.75 (-0.20%)
04-May-2026 16:59 View Price Chart
Peers
Company Name CMP
Reliance Industries 1462.95
Indian Oil Corp. 142.30
BPCL 301.80
HPCL 373.85
MRPL 159.50
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