HPCL PETROLEUM
Oil Minister Hardeep Puri says India offers Rs 100 bn investment opportunities in explorations & productions
Union Minister Hardeep Singh Puri announced India offers an investment opportunity of at least 100 billion by 2030 in energy exploration and production. He highlighted the potential of India's 26 sedimentary basins, stating that despite progress, much of the potential remains untapped. Puri also mentioned that only 10% of India's sedimentary basins are currently under exploration, but this will increase to 16% by 2024.
India-Russia to push long-term arrangement for crude supplies at annual summit
New Delhi and Moscow aim to establish a long-term arrangement for crude oil supplies during PM Narendra Modi's visit on July 8-9. The discussions have been sparked by the increase in Russian oil exports. The focus is on ensuring a consistent supply of Russian crude to India at discounted rates. This proposed arrangement has been a topic of ongoing talks between the two nations.
ATF price hiked 1.2% after a 6.5% cut seen in June
Jet fuel prices saw a 1.2% hike on Monday, with Aviation Turbine Fuel (ATF) rising to Rs 96,148.38 per kl in Delhi, following a previous 6.5% reduction on June 1. In Mumbai, ATF reached Rs 89,908.30 per kl. Meanwhile, commercial LPG prices for hotels and restaurants were cut by Rs 30 per 19-kg cylinder to Rs 1,646.
Buy Hindustan Petroleum Corporation, target price Rs 400: Motilal Oswal
Hindustan Petroleum Corporation Ltd., incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 71909.76 Crore) operating in Gas & Petroleum sector.
HPCL bonus issue: Last day today to buy shares to qualify before record date
Earlier in May, HPCL announced that it would be issuing bonus shares to its eligible shareholders in the ratio 1:2, which means that for every two shares of the company held by the shareholders, they will receive one bonus share in their Demat account.
Govt headhunter finds no one suitable for HPCL top job
The Public Enterprises Selection Board (PESB) has rejected all candidates it interviewed for the top job at Hindustan Petroleum Corp Ltd (HPCL), marking the third time in three years that the board has rejected all applicants for CEO roles at state oil firms. The board advised the ministry of petroleum and natural gas to choose an appropriate course of selection, including the search-cum-selection committee (SCSC) or as deemed appropriate with the approval of the competent authority.
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Buy Hindustan Petroleum Corporation, target price Rs 600: Motilal Oswal
Hindustan Petroleum Corporation Ltd. key Products/Revenue Segments include Refinery, Rent and Other Operating Revenue for the year ending 31-Mar-2023.
MG Motor, HPCL join hands to enhance EV charging infrastructure
MG Motor India and Hindustan Petroleum Corporation Ltd collaborate to expand EV charging infrastructure in India, installing fast chargers at key locations for long distance and intercity commutes.
ONGC's high investments to delay deleveraging: S&P
S&P Global Ratings stated that increased investments by Oil and Natural Gas Corp (ONGC) will slow its deleveraging over the next 12-24 months, affecting its 'bbb+' standalone credit profile. Despite a 2-3% drop in domestic production and lower realizations in FY2024, ONGC's EBITDA rose to Rs 1.1 lakh crore due to strong performance from subsidiaries MRPL and HPCL. S&P forecasts EBITDA to remain around Rs 1 lakh crore for FY2025 and FY2026, supported by increased production from the Krishna Godavari basin and international assets.
Market Trading Guide: Hindustan Petroleum, UltraTech Cement among 6 stock recommendations for Monday
Indian blue-chip indices ended flat on Friday, but logged their best week since early February, led by gains in financials and metal stocks. The S&P BSE Sensex closed 0.01% lower at 75,410, while the NSE Nifty50 index ended above the 22,950 level. "Sentiment might remain subdued in the next few days, with the index ranging between 22,950 and 23,050. Heavy call and put writing activity at 23,000 suggests a possible range-bound trade in the near term. Only a decisive fall below 22,950 might take the index towards 22,800. On the other hand, a sustained movement above 23,050 might lead to a meaningful rally," said Rupak De of LKP Securities. Here are 6 stock recommendations for Monday: "The short-term trend remains weak, but the market is showing signs of higher bottom formation around 22,200 levels. Confirmation of reversal from here could open short-term upside bounce in the market. Immediate support is at 22,200 levels and the next overhead resistance is at 22,500 levels," said Nagaraj Shetti, senior technical research analyst at HDFC Securities. Here are the 5 stock recommendations for Thursday:
IOC, BPCL, HPCL post Rs 81,000 cr record profit in FY24
The retailers have resisted calls to revert to daily price revision and pass on softening in rates to consumers on grounds that prices continue to be extremely volatile - rising on one day and falling on the other - and that they needed to recoup losses incurred in the year when they kept rates lower than cost.
IOC, BPCL, HPCL post Rs 81,000 cr record profit in FY24
The retailers have resisted calls to revert to daily price revision and pass on softening in rates to consumers on grounds that prices continue to be extremely volatile - rising on one day and falling on the other - and that they needed to recoup losses incurred in the year when they kept rates lower than cost.
HPCL announces 1:2 bonus share issue, Rs 16.5 dividend along with Q4 results
The record date for the bonus issue has been fixed on June 21, while the credit of shares will happen on or before July 8. The paid-up share capital before the bonus issue stands at Rs 1,418.55 crore, an increase to Rs 2,127.82 crore after the issuance.
HPCL Q4 Results: Net profit falls 25% YoY to Rs 2,709.31 crore; co announces 1:2 bonus issue
Hindustan Petroleum Corporation Ltd (HPCL) on Thursday reported a 25 per cent fall in its March quarter net profit on lower refining margins and announced one bonus share for every two shares held.
Stocks in news: PB Fintech, Dr Reddy's, HPCL, Godrej Consumer, LTIMindtree
Pharma company Lupin on Monday reported 52% year-on-year growth in its consolidated net profit at Rs 368 crore for the quarter ended March 2024.
Hindustan Petroleum to set up a global oil trading desk
Hindustan Petroleum Corp. Ltd (HPCL) plans to establish an international oil trading desk as part of its Visakh Refinery Modernisation Project. The move aims to modernize the refinery, increase refining capacity, and improve distillate yields. A trading desk helps companies procure crude oil from the international market on a real-time basis, helping cut import prices.
Buy Hindustan Petroleum Corporation, target price Rs 590: Motilal Oswal
Hindustan Petroleum Corporation Ltd., incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 66529.92 Crore) operating in Gas & Petroleum sector.
Buy Hindustan Petroleum Corporation, target price Rs 510: Anand Rathi
Hindustan Petroleum Corporation Ltd. key Products/Revenue Segments include Refinery, Rent and Other Operating Revenue for the year ending 31-Mar-2023.
Two HPCL assistant managers booked for pilfering petroleum products worth Rs 5.82 crore
The CBI has registered an FIR against two HPCL assistant managers for allegedly pilfering 642 kilo litres of petroleum products worth Rs 5.82 crore between June 2022 and January 2024, officials said on Wednesday. They said the agency has booked Rahul Kumar and Hemant Singh, both assistant managers posted at HPCL's Mathura terminal, along with two private transporters -- SR Transport Company and Jadon Transport Company.
Delhi High Court upholds Reliance's inclusion in BPCL-HPCL pipeline case
The Delhi High Court upheld the Appellate Tribunal for Electricity's order allowing Reliance Industries to be made a party in a case regarding the designation of a pipeline by BPCL and HPCL as a common carrier for petroleum transportation. The court dismissed BPCL's appeal, supporting the tribunal's decision. The issue arose when PSU oil companies questioned whether their pipeline, exclusively for ATF transportation, should be a common carrier. RIL argued that since it initiated the process, it has a stake in the matter. The tribunal had allowed RIL to join the proceedings, a decision opposed by the PSU oil firms.
Kotak Equities retains sell rating on HPCL, IOC & BPCL, estimates up to 33% slide
Kotak Institutional Equities expressed concerns over OMCs' capex plans due to limited pricing freedom. Government's petrol and diesel price cut, along with rising crude oil prices, may impact energy stocks like HPCL, IOC, and BPCL.
Petroleum dealers association calls for 48-hour petrol pump bandh in Assam
Northeast India Petroleum dealers association (Greater Guwahati) leads a 48-hour bandh in Assam's Kamrup Metro, Kamrup, and Morigaon districts, demanding responses to letters, addressing investment issues, and protesting oil companies' irregularities.
Tata Motors unit, HPCL join hands to install 5,000 vehicle charging stations by 2024-end
Tata Passenger Electric Mobility partners with Hindustan Petroleum Corporation Ltd to establish 5,000 public charging stations nationwide by year-end, leveraging HPCL fuel stations and Tata EV insights for the growing EV customer base.
Buy or Sell? Here's what brokerages say on IOCL, BPCL and HPCL shares
Oil marketing companies' stocks recover 5.3% after 11% decline due to government's Rs 2/litre petrol and diesel price cut before elections. Nomura is bullish on OMC stocks, Macquarie us cautious and Kotak has a negative outlook.
Oil companies jump into EV charging; Offer facilities at over 15,000 petrol pumps
India has 89,000 petrol pumps, of which 17% now have EV charging facilities. Indian Oil, the largest fuel retailer in the country, has 8,760 filling stations with EV chargers, or nearly a quarter of the total 32,000 pumps it operates. HPCL's 3,050 pumps and BPCL's 2,640 pumps have chargers.
OMC stocks tank up to 11% in 3 days on petrol, diesel price cut; Kotak gives 'sell' rating
Shares of Hindustan Petroleum Corporation (HPCL), Indian Oil Corporation (IOC), and Bharat Petroleum Corporation (BPCL) have fallen 11%, 9%, and 6% respectively since March 15, the day when the rate cut came into effect.
Buy Hindustan Petroleum Corporation, target price Rs 625: ICICI Securities
Hindustan Petroleum Corporation Ltd., incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 65806.46 Crore) operating in Gas & Petroleum sector.
OMC stocks plunge up to 8% on cut in petrol, diesel prices; HPCL top loser
OMCs' stocks plummeted up to 8% after a Rs 2 per litre price cut, impacting margins. Major companies like HPCL and BPCL faced significant share price declines. Motilal Oswal expects negative stock price reactions in near term.
MoS Petroleum Teli lays foundation stone for HPCL Petroleum, Oil Lubricants, and LPG Depot at Assam's Karmadanga
The Foundation Stone for HPCL POL and LPG Depot was laid in Karmadanga, Chirang District of Bodoland Territorial Region (BTR) in Assam by Union Minister Rameshwar Teli and BTR Chief Pramod Boro. The project signifies the development in BTR after the BTR Peace Accord 2020, with investment and enhanced energy accessibility.
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