|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||380.45 - 387.45|
|52-week range||327.33 - 493.00|
|PE ratio (TTM)||7.15|
|Forward dividend & yield||N/A (N/A)|
|1y target est||448.94|
State-owned oil refiner Hindustan Petroleum Corp Ltd's profit rose 22.6 percent in the third quarter, beating estimates. Profit rose to 19.50 billion rupees , compared with 15.90 billion rupees a year ...
Oil & Natural Gas Corp. plans to sell its holding in two state-run energy companies within a year to repay debt it raised to fund the purchase of the Indian government’s stake in Hindustan Petroleum Corp., ...
India could see more integration among state oil companies, its oil minister said on Monday, following top producer ONGC's $5.8 billion deal last week to buy a majority stake in refiner Hindustan Petroleum Corp Ltd. India wants to build bigger oil companies to better compete with global energy giants and withstand oil price volatility through integration of state-run oil firms.
Shares of Oil and Natural Gas Corp Ltd jumped as much as 6.3 percent on Monday after the explorer said it would buy a majority stake in refiner Hindustan Petroleum Corp Ltd for a smaller premium than expected. The gains, which took ONGC's shares to their highest in nearly one year, came after India's biggest explorer said on Saturday it would pay 369 billion rupees ($5.77 billion) for a 51.1 percent stake in HPCL from the government at 473.97 rupees per share. HPCL shares, however, fell as much as 4.3 percent as the premium paid was only about 14 percent higher than Friday's closing price, smaller than expected.
New Delhi, Jan 21 (IANS) Oil and gas explorer ONGC on Sunday said that various "options" including internal accruals and short-term borrowing are available to fund its acquisition of HPCL. "We have various options available with us to fund this deal," Shashi Shanker, Chairman and Managing Director of ONGC, told a press briefing here, a day after the central government entered into an agreement with the oil and gas explorer for strategic sale of its equity share-holding in HPCL. According to Shanker, acquisition of the Central government's 51 per cent stake in HPCL worth over Rs 36,900 crore can also be done through the combination of various options available with ONGC.
India’s biggest oil and gas explorer has widened its first debt-raising plan to as much as $5.48 billion to buy state-run refiner Hindustan Petroleum Corp.
India's biggest explorer Oil and Natural Gas Corp (ONGC) has agreed to buy the government's majority stake in state-refiner Hindustan Petroleum Corp for 369 billion rupees ($5.78 billion), ONGC said on Saturday. It will pay a premium of about 14 percent on HPCL's current market price for the 51.1 percent stake, the company said in a statement to the stock exchange. The deal is part of the government's objective to combine various public sector enterprises "to give them the capacity to bear higher risks" and create more value for shareholders, ONGC said.
New Delhi, Jan 20 (IANS) State-run Oil and Natural Gas Corporation Ltd (ONGC) will acquire the government's 51.11 per cent equity share-holding in Hindustan Petroleum Corporation Ltd (HPCL) at a consideration of Rs 36,915 crore. Through the single share sale, the Centre would be able to meet half of its disinvestment target of Rs 72,500 crore for 2017-18. "The Government of India has entered into an agreement with ONGC today (Saturday) for strategic sale of its 51.11 per cent equity share-holding in HPCL at a consideration of Rs 36,915 crore," a statement said.
India is considering a plan to sell its ownership in Hindustan Petroleum Corp. to the nation’s biggest explorer at a premium of not more than 9 percent of the company’s six-month average share price as ...
Indian Prime Minister Narendra Modi on Tuesday launched the construction of a $6.8 billion refinery in the western state of Rajasthan, hopeful to lift national capacity to meet the surge in fuel demand. The 180,000-barrel-per-day refinery and petrochemical project in the state bordering Pakistan is being built by the country's third-biggest state refiner Hindustan Petroleum Corp Ltd (HPCL) in a tie-up with the state government. The foundation stone for the project was first laid in September 2013 by the then ruling Congress Party chief Sonia Gandhi.
New Delhi, Dec 12 (IANS) Higher sales remain a tailwind for Indian state-run oil marketing companies (OMCs), US investment banker Jefferies' Indian arm said on Tuesday, reaffirming its 'Buy' rating on ...
New Delhi, Dec 7 (IANS) L&T Hydrocarbon Engineering Ltd (LTHE) on Thursday said it has bagged an order worth over Rs 1,600 crore from Hindustan Petroleum Corp Ltd (HPCL), Visakhapatnam Refinery. According ...
MUMBAI/NEW DELHI (Reuters) - India's state oil refiners are planning an aggressive push into natural gas in coming years to meet Prime Minister Narendra Modi's goal of making the fuel a bigger part of the country's energy mix. State-owned oil companies - Indian Oil, Bharat Petroleum and Hindustan Petroleum - are planning to raise gas contributions to between 5 and 15 percent of their incomes over the next few years, up from nearly none now, company executives said. This in line with a government target to raise the natural gas portion of India's primary energy mix to 15 percent by 2030, up from 6.5 percent now, to help meet climate targets and rein in rampant pollution.
State-owned oil refiner Hindustan Petroleum Corp Ltd's second-quarter net profit more than doubled, but fell short of analysts' estimates. Net profit for the three months ending Sept. 30 soared to 17.35 ...
HPCL-Mittal Energy Ltd (HMEL), part-owned by steel tycoon L N Mittal, may halt naphtha exports from the 2021-22 fiscal year when it starts its $3.1 billion cracker, the chairman of Hindustan Petroleum Corp said. Like other Indian refiners, HMEL is also building a petrochemical complex linked to its refinery to cater for an expected surge in demand for goods ranging from plastics to paints and adhesives. The cracker will have an annual capacity of 1.2 million tonnes with a provision to raise it to 1.5 million tonnes, M. K. Surana told Reuters.
Hyderabad, Oct 16 (IANS) Customers of Airtel Payments Bank can now make digital payments for fuel purchase at 1,500 HPCL fuel stations across Andhra Pradesh and Telangana. The announcement was made during the inauguration of an HPCL fuel station as banking point in the Manikonda HPCL fuel station in Hyderabad on Monday.
A push to use more natural gas by the world’s fastest-growing oil guzzler is getting a boost from an unlikely source: the nation’s gasoline and diesel makers.
Indian state refiner Hindustan Petroleum Corp has made its first purchase of U.S. oil, buying high sulphur crude Mars in a tender, company chairman M. K. Surana said on Monday. Earlier Indian Oil Corp ...
Mumbai, Sep 13 (IANS) Stocks of three state-owned oil marketing companies (OMCs) tanked by as much as six per cent on Wednesday following reports that the government was mulling placing curbs on their ...
India's state oil refiners - long focused on churning out transport and cooking fuels - are planning a $35 billion push into petrochemicals to meet an expected surge in demand for goods ranging from plastics to paints and adhesives. The drive comes as the government seeks to promote durable, cheaper materials in industries such as farming and food packaging, while refiners eye long-term threats to their business from renewable energy and a shift to electric vehicles. India's per capita consumption of synthetic polymers, for instance, used to make various grades of plastics, is just 10 kg (22 lbs) a year, compared with a global average of about 32 kg.
NEW DELHI/BENGALURU (Reuters) - Hindustan Petroleum Corp plans to buy low-sulphur oil from the United States in the next few months for its 166,000 barrel per day (bpd) Vizag refinery in southern India, company executives said on Friday. U.S. crude is an additional option for us," he said. India is the latest Asian country to buy U.S. crude, following South Korea, Japan, China, Thailand, Australia and Taiwan, after OPEC cuts drove up prices of Middle East heavy-sour crude, or grades with a high sulphur content.
New Delhi, July 27 (IANS) State-run explorer Oil and Natural Gas Corp (ONGC) on Thursday posted an 8.2 per cent fall in net profit for the first quarter ended June at Rs 3,885 crore, as compared to the Rs 4,233 crore PAT reported in the same quarter of 2016-2017. ONGC said in a statement here that the fall in profit comes despite the increase in gross revenue over the corresponding quarter in the previous fiscal and lower expenses during the quarter in consideration. The company's gross revenue during the first quarter of the current fiscal of Rs 19,073 crore was a 7.2 per cent rise over the Rs 17,784 crore in the same period of fiscal 2016-2017.
India has decided to set up a panel headed by Finance Minister Arun Jaitley to expedite the sale of government's stake in refiner Hindustan Petroleum Corp (HPCL.NS) to explorer Oil and Natural Gas Corp (ONGC.NS), Oil Minister Dharmendra Pradhan said. The Indian cabinet last week decided to sell the government's 51.1 percent stake in refiner and fuel retailer HPCL to oil producer ONGC.
New Delhi, July 20 (IANS) The acquisition of the central government's majority stake in Hindustan Petroleum by state-run explorer ONGC is the more effective and smoother way of merging these two entities, which are in two different segments of the business, according to a concerned official here. The Union Cabinet on Wednesday gave its in-principle approval to the merger of state-run explorer Oil and Natural Gas Corp (ONGC) and oil marketer Hindustan Petroleum Corp Ltd (HPCL), official sources said here. The Cabinet approved the sale of the government's stake in HPCL to ONGC.
State refiner Hindustan Petroleum Corp Limited (HPCL) sees itself better placed to buy overseas downstream assets once it becomes part of the country's top explorer Oil and Natural Gas Corp (ONGC), its chairman M. K. Surana said. The Indian cabinet on Wednesday cleared state-run ONGC to acquire the government's 51.1 percent in HPCL as New Delhi wants larger local oil firms to take on global rivals. "When you go for overseas deals, you will get more leverage because of the size of the group," Surana told Reuters, adding the deals should also make 'economic and commercial sense'.