Hindustan Petroleum Corporation (HPCL) is currently trading at Rs. 181.30, up by 4.85 points or 2.75 % from its previous closing of Rs. 176.45 on the BSE.
The scrip opened at Rs. 176.00 and has touched a high and low of Rs. 183.00 and Rs. 173.00 respectively. So far 102666 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. 173.05 on 20-Aug-2013.
Last one week high and low of the scrip stood at Rs. 191.30 and Rs. 173.05 respectively. The current market cap of the company is Rs. 6091.90 crore.
The promoters holding in the company stood at 51.11% while Institutions and Non-Institutions held 32.87% and 16.02% respectively.
Amid a controversy over its decision to relocate a proposed Rs 37,229 crore oil refinery, the Rajasthan government now faces the daunting task of meeting the 9 million tonne unit's huge water requirements. Rajasthan, which agreed to give an interest-free loan of Rs 3,736 crore per annum for 15 years to the unit after commercial production starts, has to guarantee five to six million gallons of water a day for the refinery. Processing of crude oil requires large volumes of water, most of which is recycled, while the rest is contaminated, requiring further treatment. For a desert state, providing such a large quantity of water from the Indira Gandhi canal will be a challenge.
The Rajasthan government and Hindustan Petroleum Corporation (HPCL) signed an agreement in March to set up the refinery, which will process oil from Cairn India's fields in the state and other crudes. While almost all new refineries have come up on the coast for the ease of importing crude oil, the Rajasthan refinery will need a cross-country pipeline to be built to carry oil from the west coast, which will shrink margins. The project will also compete with HPCL's Bhatinda refinery for a slice of the market in a country that already has a surplus refining capacity. India has a refining capacity of 215 million tons, while fuel consumption was less than 139 million tonnes. The surplus capacity is mostly used for exports, for which a coastal location is ideal. The new site will require a longer pipeline to bring in crude oil from Cairn India''s Mangala oilfields in Barmer. The refinery, which is planned to go on stream in four years, will source half its crude oil from Cairn''s Barmer oilfields, while the remainder will be imported. The Rajasthan government will have a 26% stake in the project. HPCL has two coastal refineries - a 6.5 million tonne plant in Mumbai and an 8.3 million tonne unit in Vishakapatnam. It also operates the 9 million tonne Bhatinda refinery in Punjab.
| Company Name | CMP |
|---|---|
| Reliance Industries | 1309.35 |
| Indian Oil Corp. | 143.45 |
| BPCL | 306.40 |
| HPCL | 392.05 |
| MRPL | 154.10 |
| View more.. | |
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