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<ul><li>Hindustan Petroleum (HPCL) shares gained over 7% after the oil refining and marketing giant approved the buyback of 10 crore shares.</li><li>The second-quarter net profit of HPCL more than doubled, led by the surge in refining margins and inventory gains</li><li>The gross sales revenue stood at ₹61,340 crore and was lower than ₹66,165 crore of Q2 of the previous financial year due to lower oil prices.</li></ul>The shares of Hindustan Petroleum (HPCL) gained over 7% after the oil refining and the marketing giant said that its board had approved a proposal to buyback up to 10 crore shares, representing 6.56% of paid-up equity capital of the company, at ₹250 per share. The buyback price represents a 33.88% premium over HPCL’s last closing price on Wednesday. In a regulatory filing on the BSE, HPCL said that the buyback remains at ₹2,500 crore, but the number of shares could be higher than maximum buyback shares (10 crore) if equity shares are bought below the maximum buyback price of ₹250. <div type="image" title="HPCL" msid="79055262" hostid="261"></div> Through the buyback, HPCL’s minority shareholders are looking to get rewarded. The company will finalise the details of the buyback in the next two days. Strong profit growth is the secondary driver The second-quarter net profit of HPCL more than doubled on the back of a surge in refining margins and inventory gains — which is again the other major reason behind HPCL stock rise today. Net profit in July-September came at ₹2,477 crore as compared to ₹1,052 crore a year back, HPCL Chairman and Managing Director Mukesh Kumar Surana told the media on a conference call. “The significant improvement in the profitability in spite of challenges including lockdown due to COVID-19 pandemic was a result of strategic planning in refinery and marketing operation, containing the degrowth to less than the industry, efficient inventory management and effective production placement,” he said. Cheaper crude oil contributed to strong growth The gross sales revenue stood at ₹61,340 crore and was lower than ₹66,165 crore of Q2 of the previous financial year due to lower oil prices. The firm earned $5.11 on turning every barrel of crude oil into fuel in the second quarter of 2020-21 fiscal as compared to a gross refining margin of $2.83 a barrel. This included a $2.33 per barrel inventory gain from buying cheaper crude oil earlier and processing in Q2. This translated into ₹1,780 crore of gain. Besides, the firm also had a forex gain of ₹524 crore, he said. The company said during the quarter, 303 new retail outlets were commissioned taking the total retail outlet network to 17,171 as of September 2020. HPCL also commissioned 37 new LPG distributorships during the quarter, taking the total LPG distributorships to 6,153 as of September 2020. (with inputs from wire services) SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/heres-what-gives-jiomart-an-edge-over-its-competitors-according-to-goldman-sachs/articleshow/79054698.cms" data-type="tilCustomLink">Here’s what gives JioMart an edge over its competitors, according to Goldman Sachs</a> <a href="https://www.businessinsider.in/stock-market/news/top-stock-movers-sbi-hcl-tech-srf-basf-happiest-minds-tech-pidilite-pvr-inox-leisure-and-others/articleshow/79054766.cms" data-type="tilCustomLink">Top stock movers — SBI, HCL Tech, SRF, BASF, Happiest Minds Tech, Pidilite, PVR, INOX Leisure, and others</a> <a href="https://www.businessinsider.in/india/news/toxic-haze-chokes-delhi-pollution-levels-enter-severe-zone-highest-since-november-last-year/articleshow/79054990.cms" data-type="tilCustomLink">Toxic haze chokes Delhi, pollution levels enter 'severe zone' – highest since November last year</a>

Here’s why Hindustan Petroleum shares rallied over 7% today

New Delhi [India], June 19 (ANI): Hindustan Petroleum Corporation Ltd (<keyword id="6362419" type="General" weightage="20" keywordseo="HPCL" source="Orion">HPCL</keyword>), which is enhancing its footprints in the <keyword id="6354703" type="General" weightage="100" keywordseo="natural-gas" source="Orion">natural gas</keyword> market, on Monday said it has secured a major long-term contract from ONGC Petro additions Ltd (OPaL) for the supply of natural gas. HPCL will supply natural gas to ONGC Petro additions Ltd's petrochemical complex at Dahej in Gujarat. OPaL, a joint venture of ONGC, GAIL and GSPC, requires natural gas for operating its own captive power plant for supporting its power and steam requirements. In a stock filing, HPCL said it has won the contract through competitive bidding against a tender floated by OPaL. "HPCL will be supplying 13.53 Trillion Btu of Natural Gas to OPaL during the period October 23 to May 26 under this contract," the filing said. HPCL has ambitions in the natural gas business and is focused to build a strong foothold in the petrochemical and fertilizer sectors. Further, HPCL informed stock it has entered into an agreement with Automin Car Services Pvt Ltd, a subsidiary of Petromin Corporation, Saudi Arabia to establish co-branded HP-Petromin Express vehicle service centres across India. Petromin is a leading mobility solutions player in automotive technology with more than 700 multi-brand quick-service outlets across the GCC region. "This strategic partnership aims to provide world-class customer experiences at affordable prices and offer a comprehensive range of solutions under one roof, including lube change, light repairs, periodic maintenance, battery replacements, tire services, air conditioning repairs and eco carwash facilities," it added. The co-branded HP-Petromin Express vehicle service centres will be located in HPCL's retail outlets in metros and other major cities across India. (ANI)

HPCL bags contract from OPaL for supply of natural gas

Shares of oil refinery <keyword id="500127" type="DOMAIN" weightage="20" keywordseo="Hindustan-Petroleum-Corporation-Ltd">Hindustan Petroleum Corporation Ltd</keyword>. (HPCL) gained over four per cent to Rs 187.10 (at 2.30 p.m.) on the BSE on Friday after the company announced that it will consider a proposal to buyback shares at its <keyword id="9589025" type="UNKNOWN" weightage="20" keywordseo="next-board-meeting">next board meeting</keyword> on November 4. The HPCL board was to meet on November 4 to consider and approve the financial results of the company for the second quarter and half year period ending September 30 earlier. "We now wish to inform you that in the aforesaid board meeting, the board will also consider a proposal to buyback the fully paid equity shares of face value of Rs 10 each of the company", BPCL said in exchange filing on Thursday after market hours. The decision to buyback shares gave momentum to HPCL shares in trade on Friday. In fact, the company's shares have gained 20 per cent in the last three months even though the gains for S&amp;P BSE Sensex during the period has been just five per cent. With the correction in HPCL stock, minority shareholders could hope to get rewarded on the proposed buy back. The performance of the buyback would, however, be determined on the basis of how attractive the pricing is, brokerages have said. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/cricketer-yuvraj-singh-invests-in-nutrition-based-healthtech-startup-wellversed/articleshow/78945260.cms" data-type="tilCustomLink">Cricketer Yuvraj Singh invests in nutrition-based healthtech startup Wellversed</a> <a href="https://www.businessinsider.in/tech/news/the-big-4-tech-companies-amazon-apple-facebook-and-google-blew-past-wall-street-estimates-in-their-latest-quarter-earnings-reports/articleshow/78942589.cms" data-type="tilCustomLink">The Big 4 tech companies — Amazon, Apple, Facebook, and Google — blew past Wall Street estimates in their latest-quarter earnings reports</a>

HPCL shares soar 4% as board considers share buyback on November 4

<ul><li>The SGX Nifty was trading 0.81% lower at 7:55 am, indicating a negative start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Even amid positive cues from the global markets, the Indian equities are likely to open in the red on Thursday. The SGX Nifty was trading 0.81% lower at 7:55 am, indicating a negative start for Nifty50. However, the US stock markets also soared on Wednesday, as investors shrug off the undecided election. The Dow Jones Industrial Average closed 368 points higher, and the S&amp;P 500 gained 2.2%. These are the stocks to watch out for during the trading session on November 5: PVR and Inox Leisure PVR and Inox Leisure stocks will be in focus during the trade today after <a href="https://www.businessinsider.in/india/news/maharashtra-government-allows-reopening-of-cinema-halls-with-50-capacity-from-november-5/articleshow/79041693.cms?upcache=2">the Maharashtra Government has now allowed cinema halls</a> to open in areas outside containment zones with 50% of their seating capacity from today. The shares of PVR and Inox Leisure ended 1% and 2% higher on Wednesday, respectively. HPCL The board of the Hindustan Petroleum (HPCL) approved a ₹2,500 crore share buyback plan as the company management feels the share price is lower than the value it deserves. In a stock exchange filing, HPCL said it would buy back up to 10 crore shares for no more than ₹250/share. The net profit of the company also nearly doubled in the second quarter led by a surge in refining margins and inventory gains. The net profit in July-September stood at ₹2,477 crore as compared to ₹1,052 crore in a year-ago period. The shares of HPCL ended 0.83% higher on Wednesday, SBI Cards SBI Cards and Payment Services (SBI Card) has launched credit cards in partnership with the digital payment platform Paytm. Available in two variants, Paytm SBI Card and Paytm SBI Card SELECT, the product has been launched on the Visa platform. The shares of SBI Cards ended 0.53% higher on Wednesday, JK Lakshmi JK Lakshmi Cement reported an 86.90% rise in consolidated net profit to ₹92.93 crore for the second quarter ended September 30, helped by cost reduction. The revenue from operations rose 11.79% to ₹1,131.74 crore during the quarter under review. The shares of JK Lakshmi ended 4% higher on Wednesday, Jubilant Life Sciences The board of Jubilant Life Sciences approved raising up to ₹100 crore via non-convertible debentures (NCD). The shares of Jubilant Life Sciences ended 2% higher on Wednesday, Pidilite Industries Fevicol maker Pidilite Industries reported a 9.66% increase in consolidated net profit to ₹356.44 crore for the quarter ended September 30. The company’s revenue from operations rose 4.08% at ₹1,880.33 crore during the quarter under review. The shares of Pidilite Industries ended 0.36% lower on Wednesday, Aditya Birla Capital, Adani Power, Berger Paints India and Emami Aditya Birla Capital, Adani Power, Berger Paints India and Emami are slated to report their second-quarter earnings today. SEE ALSO:<a href="https://www.businessinsider.in/politics/world/news/here-are-trump-and-bidens-paths-to-victory-based-on-where-the-election-currently-stands/articleshow/79044299.cms" data-type="tilCustomLink"> How Trump and Biden can win based on where the election stands now</a> <a href="https://www.businessinsider.in/business/auto/news/india-may-announce-vehicle-scrappage-policy-soon-and-this-is-what-it-means-for-consumers-and-new-buyers/articleshow/79041346.cms" data-type="tilCustomLink">India is looking to bring in the vehicle scrappage policy soon — here’s what it means for you</a> <a href="https://www.businessinsider.in/finance/banks/news/sbis-profit-jumps-over-50-in-q2-plans-to-outperform-the-industry-in-credit-growth/articleshow/79039165.cms" data-type="tilCustomLink">SBI’s profit jumps over 50% in Q2 — India’s largest bank plans to outperform the industry when it comes to credit growth</a>

Top stocks to watch — PVR, Inox Leisure, SBI Cards, HPCL, Pidilite Industries, Adani Power, Berger Paints, and others

The <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> opened nearly a percent lower, in line with expectations, as stocks gave a knee jerk reaction to the events in debt laden <keyword id="6357856" type="COUNTRY" weightage="100" keywordseo="greece">Greece</keyword>, where citizens voted against more austerity and forced the <keyword id="6355110" type="ORGANIZATION" weightage="100" keywordseo="European-Union">European Union</keyword>'s hand to call in an emergency meeting. The Advance-Decline Ratio on the Nifty was negative 3:47 with just <keyword id="44555" type="CITY" weightage="80" keywordseo="BPCL">BPCL</keyword>, <keyword id="6407278" type="COMPANY" weightage="80" keywordseo="Kotak-Bank">Kotak Bank</keyword> and Dr. Reddy's gaining ground. Predictably, the losers were lead by banks and commodity stocks. <keyword id="6653" type="CITY" weightage="80" keywordseo="ICICI-bank">ICICI Bank</keyword>, Tata Steel, Vedanta and NMDC were the top losers on the Index. Overall, the Advance-Decline Ratio in the wider market was 1:2 on the Bombay Stock Exchange. Global crude oil prices are down as a consequence of the gain in Dollar, helping local oil importers such as <keyword id="6354733" type="ORGANIZATION" weightage="80" keywordseo="IOC">IOC</keyword>, BPCL and HPCL on the NSE. Kotak Bank is reacting positively to the FIPB's nod to raise foreign buying limit in the private lender to 55 percent from the earlier 49 percent. 
	 
	(image credits: thehindubusinessline)

The Greece effect shows large as markets open on a tragic note

Mumbai, Feb 28 () National oil marketer Indian Oil Corporation (IOC) on Friday said it is ready to supply low emission BS-VI fuels from April 1 and that there will be a marginal increase in retail prices. The largest oil supplier has spent over Rs 17,000 crore to upgrade its refineries to produce the low-sulphur diesel and petrol, the company's chairman Sanjiv Singh told reporters here. Without disclosing the quantum of price increase, Singh said, "there will definitely be a marginal increase in retail prices of the fuels from April 1 when the whole country will be run on new fuels, which will have sulphur content of only 10 parts per million (ppm) as against the present 50 ppm. "But let me assure you, we will not be burdening the consumers with a steep hike," Singh said. He said, state-run oil marketing companies (OMCs) have invested Rs 35,000 crore to upgrade their refineries, of which Rs 17,000 crore have been spent by IOC alone. Earlier this week, the sell-off bound BPCL said it had invested around Rs 7,000 crore for the same. ONGC-run HPCL has not so far disclosed its readiness for BS-VI supplies or its capex on the same. HPCL had said from February 26-27 it was ready with BS-VI fuels and that it would sell only the new fuels from March 1. IOC switched to BS-VI fuel production a fortnight ago and all its depots and containers are ready now, Singh said. However, he said some remote locations, where the intake is very low, will take some more time to switch. But the company is planning to drain out the entire BS-IV stock and replenish the new fuels at such locations, he added. Further, it has been reported that the companies will have to increase prices by 70-120 paise a litre, but Singh said, to arrive such a weighted average is not possible given the complexities of each refinery. He, however, asserted that the price hike will not be a burden on consumers. We are not looking at this investment from a purely return on investment basis, but this is a national mandate and we have done it. Having said that, all those countries that moved to low emission fuels are charging higher prices; and from April 1, our prices will also be benchmarked against Euro VI prices as against the present practice of cost-plus model, Singh concluded. BEN ANSANS

Ready for BS-VI supply, prices to go up marginally from Apr 1: IOC

<ul><li>The US stock markets soared on Tuesday, as investors eagerly awaited the results of US 2020 presidential elections.</li><li>SGX Nifty was trading 0.34% lower at 7:48 am, indicating a tepid start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst mixed cues from the global markets, the Indian equities are likely to open flat on Wednesday. The SGX Nifty was trading 0.34% lower at 7:48 am, indicating a tepid start for Nifty50. However, the US stock markets soared on Tuesday, as investors eagerly awaited the results of 2020 US presidential elections. The Dow Jones Industrial Average gained over 554 points, and the S&amp;P 500 gained 1.78%. These are the stocks to watch out for during the trading session on November 4: <keyword id="407979" type="COMPANY" weightage="20" keywordseo="Ajanta-Pharma">Ajanta Pharma</keyword> In a meeting held on November 3, Ajanta Pharma’s board approved the proposal to buyback its fully paid-up 7.35 lakh equity shares at a price of ₹1,850 each for an aggregate consideration not exceeding ₹135.97 crore. The shares of Ajanta Pharma ended 3% higher on Tuesday. Somany Home Innovation HDFC MF has reduced its stake in the company to 4.67% from 6.68% on October 30. The shares of Somany Home Innovation ended 1% higher on Tuesday. <keyword id="799" type="CITY" weightage="20" keywordseo="PVR">PVR</keyword> Leading multiplex chain operator PVR reported a consolidated net loss of ₹184.06 crore for the second quarter ended September 30, against the net profit of ₹47.67 crore in the same quarter last year. The total income of the company declined to ₹110.61 crore during the quarter under review as against ₹979.40 crore in the corresponding quarter last fiscal year. The shares of PVR ended 0.23% higher on Tuesday. HLE Glascoat Malabar India Fund will acquire 1.44 lakh shares of HLE Glascoat at ₹1,385 per share, aggregating up to ₹20 crore and 5.78 lakh warrants at ₹1,385 per warrant, aggregating up to ₹80 crore. The shares of HLE Glascoat ended 0.65% higher on Tuesday. <keyword id="141201" type="COMPANY" weightage="20" keywordseo="Cera-Sanitaryware">Cera Sanitaryware</keyword> Cera Sanitaryware informed stock exchanges that production at the sanitaryware unit continues to be partially affected due to unrest at its Mehsana facility. The shares of Cera Sanitaryware ended 0.13% lower on Tuesday. ICICI Lombard General Insurance ICICI Lombard General Insurance said it received no adverse observation letter from exchanges regarding the acquisition of Bharti Axa General Insurance. The shares of ICICI Lombard General Insurance ended 0.14% higher on Tuesday. <keyword id="886211" type="ORGANIZATION" weightage="20" keywordseo="Adani-Gas">Adani Gas</keyword> Adani Gas reported a record net profit in the September quarter as sales returned to pre-Covid levels quicker than anticipated. Net profit in July-September quarter at ₹136 crore was 13% higher compared to the profit a year ago. The shares of Adani Gas ended 2% higher on Tuesday. State Bank of India, <keyword id="46698" type="CITY" weightage="20" keywordseo="Lupin">Lupin</keyword>, HPCL and Adani Enterprises State Bank of India, Lupin, HPCL, Adani Enterprise are slated to announce their quarterly results today. SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/2020-election-see-insiders-comprehensive-guide-to-the-presidential-and-top-congressional-races/articleshow/78878848.cms" data-type="tilCustomLink">LIVE RESULTS: 2020 presidential and key congressional races</a> <a href="https://www.businessinsider.in/business/news/jack-ma-ant-group-ipo-listing-has-been-suspended-by-the-shanghai-stock-exchange/articleshow/79022502.cms" data-type="tilCustomLink">China suspends Jack Ma’s $34 billion Ant Group listing — citing changes in regulatory environment</a>

Top stocks to watch — SBI, Ajanta Pharma, PVR, Lupin, Adani Gas, Cera Sanitaryware, and others

<ul><li>The SGX Nifty was trading 0.31% lower at 7:50 am, indicating a weak opening for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst mixed cues from the global markets, the Indian equities are likely to open flat on Friday. The SGX Nifty was trading 0.31% lower at 7:50 am, indicating a weak opening for Nifty50. However, The US stock markets soared on Thursday, as investors cheered healthy economic data and bet on tech stocks to post strong quarterly earnings. The Dow Jones Industrial Average closed 139 points higher and the S&amp;P 500 gained 1.19%. These are the stocks to watch out for during the trading session on October 29: IndiGo India’s largest airline IndiGo reported a net loss of ₹1,194 crore for the second quarter ended September 30. The company had posted a net loss of ₹1,062 crore in the same quarter last year. The airline’s total income was down 65% to ₹3,029 crore. The shares of IndiGo ended 2.3% higher on Thursday. Tata Group stocks The Tata Group stocks such as Tata Motors, TCS, Tata Communications, among others, will be in focus throughout the trade today. The Shapoorji Pallonji Group has submitted a plan for separation from Tatas to the Supreme Court. The Mistrys have valued their holding in the Tatas at ₹1.75 lakh crore. Hindustan Petroleum (HPCL) The petroleum giant Hindustan Petroleum announced that its board would meet on November 4 to consider a share buyback plan as the company management feels the share price is lower than the value it deserves. The shares of HPCL ended 5% higher on Thursday. SpiceJet, IndiGo and other aviation-related stocks The stocks of SpiceJet, IndiGo and other aviation-related stocks will be in focus today. The Civil Aviation Minister Hardeep Singh Puri announced that the upper and lower limits on domestic airfares would remain in place for another three months post-November 24. The shares of SpiceJet ended 2% lower on Thursday. Mangalore Refinery and Petrochemicals Limited (MRPL) ONGC subsidiary Mangalore Refinery and Petrochemicals Limited (MRPL) registered a net profit of ₹35.84 crore in the second quarter ended September 30, as against a loss of ₹574.45 crore in the corresponding period last year. The shares of MRPL ended 1% lower on Thursday. Zensar Technologies Zensar Technologies reported an 11.7% rise in net profit to ₹89.2 crore for the second quarter ended September 30. The board of the company has also given in-principle approval for a merger of its wholly-owned subsidiary Cynosure Interface Services with the company. The merger aims at reducing administrative costs. The shares of Zensar Technologies ended 0.37% lower on Thursday. TVS Motor TVS Motor Company reported a 29.37% decline in consolidated net profit at ₹181.41 crore for the quarter ended September 30. The production and sales improved consistently from July onwards, but the commercial vehicle segment continued to hurt the company. The shares of TVS Motor ended over 1% lower on Thursday. Vodafone Idea Debt-ridden telecom firm Vodafone Idea reported narrowing of its consolidated loss to ₹7,218.2 crore for the quarter ended September 30. The company had posted a loss of ₹50,897.9 crore in the same quarter last year. However, the total income declined by about 3% to ₹10,830.5 crore during the reported quarter. The company’s subscriber base also declined to 27.18 crore in Q2, from 27.98 crore earlier. The shares of Vodafone Idea ended 4% lower on Thursday. Angel Broking Kuwait Investment Authority has acquired half a percent stake in retail broking company Angel Broking via open market transactions on October 29 for ₹321.73 per share. The shares of Angel Broking ended 3% higher on Thursday. Reliance Industries, Dixon Technologies, IndusInd Bank, Indian Oil Corporation, UPL, Reliance Industries, Dixon Technologies, IndusInd Bank, Indian Oil Corporation, UPL among others are slated to announce quarterly financial results today. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/marutis-revenue-rises-10-as-car-sales-increase-but-high-commodity-prices-dampen-profit/articleshow/78929357.cms" data-type="tilCustomLink">Maruti’s revenue rises 10% as car sales increase but high commodity prices dampen profit</a> <a href="https://www.businessinsider.in/business/startups/news/byjus-backer-lightspeed-india-invests-in-a-live-tutoring-platform-teachmint/articleshow/78924152.cms">BYJU'S backer Lightspeed India invests in a live tutoring platform Teachmint</a> <a href="https://www.businessinsider.in/india/news/covid-19-vaccine-updates-pfizer-moderna-to-roll-out-covid-19-vaccine-by-december/articleshow/78924143.cms" data-type="tilCustomLink">COVID-19 vaccine updates: Pfizer, Moderna to roll out COVID-19 vaccine by December</a>

Top stocks to watch — RIL, IndiGo, Tata Group, SpiceJet, Angel Broking, Dixon Tech, MPCL, and others

Share prices of the oil marketing companies (OMC) dropped on Tuesday with the scrip of privatisation-bound <keyword id="155363" type="DOMAIN" weightage="20" keywordseo="Bharat-Petroleum-Corporation-Ltd">Bharat Petroleum Corporation Ltd</keyword> (<keyword id="44555" type="DOMAIN" weightage="20" keywordseo="BPCL">BPCL</keyword>) falling over 5 per cent. At 2.16 p.m., BPCL shares on the BSE were trading at ₹441.05, lower by ₹25.95 or 5.56 per cent from its previous close. Its shares fell amid reports of the company selling 4 per cent of treasury shares worth ₹3,774 crore in a bulk deal. Shares of other OMCs also declined on Tuesday with stocks of <keyword id="458519" type="DOMAIN" weightage="20" keywordseo="Indian-Oil-Corporation-ltd">Indian Oil Corporation Ltd</keyword> (<keyword id="181809" type="DOMAIN" weightage="20" keywordseo="IOCL">IOCL</keyword>) trading 3.67 per cent lower at ₹99.75 per share. Hindustan Petroleum Corporation's (<keyword id="6362419" type="DOMAIN" weightage="20" keywordseo="hpcl">HPCL</keyword>) shares were trading at ₹234.60, lower by 3.62 per cent from its previous close. Further, revenues of OMCs are likely to remain under pressure for some time now as official sources indicated that with fuel price rise becoming an election issue, the Centre would not like to further escalate the matter with more increases in the auto fuel prices required in the wake of firming of prices in the global oil market. The halt in retail price hikes, at a time when crude oil prices are surging would put immense pressure on the margins of the oil marketing companies, experts said. The May delivery contract of Brent crude on the Intercontinental Exchange is currently trading above $68 per barrel. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/craftsman-automation-has-fixed-a-price-band-of-14881490-a-share-for-its-150-crore-ipo/articleshow/81408729.cms">Auto components maker Craftsman Automation’s ₹150 crore IPO to hit the capital markets next week — price band fixed at ₹1,488–1,490</a> <a href="https://www.businessinsider.in/india/news/india-is-using-the-quad-alliance-to-get-help-from-the-us-japan-and-australia-to-match-chinas-covid-19-vaccine-push/articleshow/81408044.cms">India is asking the QUAD for money to boost vaccine production and counter China’s moves on the global stage</a> <a href="https://www.businessinsider.in/business/corporates/news/elon-musks-net-worth-has-eroded-60-billion-in-just-two-months-as-teslas-market-cap-falls-35/articleshow/81407453.cms">Elon Musk’s wealth has eroded $60 billion in just two months as Tesla's market cap falls 35%</a>

Bharat Petroleum plunge 5% amid reports of the company selling 4% of treasury shares

New Delhi, Dec 6 () Shares of oil and gas companies fell on Friday amid reports that OPEC and other major producers are looking to finalise a deal to cut production.
 Oil and Natural Gas Corporation's shares fell 1.71 per cent to Rs 126.60 per unit on the BSE and 1.86 per cent to Rs 126.50 on the NSE.
 Hindustan Petroleum Corporation Ltd (HPCL) saw its stock decline by 1.09 per cent to Rs 263.05 a unit on the BSE and 0.71 per cent on the NSE to Rs 264.
 Shares of Indian Oil Corporation Ltd (IOCL) were down by 1.39 per cent to Rs 124.25 apiece on the BSE and 1.23 per cent on the NSE to Rs 124.40.
 Bharat Petroleum Corporation Ltd (BPCL) scrip slipped 0.65 per cent to Rs 488.30 on the BSE and 0.59 per cent on the NSE to Rs 488.95.
 Shares of Petronet LNG saw a dip of 1.47 per cent to Rs 268.10 on the BSE and 1.61 per cent on the NSE to Rs 268.05.
 According to reports, OPEC and Russia along with other producers were attempting Friday to finalize a deal to cut production in an attempt to support the price of fuel and energy around the world. RUJ SHW
SHW

You Searched For "HPCL Stock Price" and got 10 results

Here’s why Hindustan Petroleum shares rallied over 7% today

Navdeep Yadav

HPCL bags contract from OPaL for supply of natural gas

ANI

HPCL shares soar 4% as board considers share buyback on November 4

IANS

Top stocks to watch — PVR, Inox Leisure, SBI Cards, HPCL, Pidilite Industries, Adani Power, Berger Paints, and others

Navdeep Yadav

The Greece effect shows large as markets open on a tragic note

Shailendra Bhatnagar

Ready for BS-VI supply, prices to go up marginally from Apr 1: IOC

PTI

Top stocks to watch — SBI, Ajanta Pharma, PVR, Lupin, Adani Gas, Cera Sanitaryware, and others

Navdeep Yadav

Top stocks to watch — RIL, IndiGo, Tata Group, SpiceJet, Angel Broking, Dixon Tech, MPCL, and others

Navdeep Yadav

Bharat Petroleum plunge 5% amid reports of the company selling 4% of treasury shares

IANS

Oil companies' shares fall on OPEC output cut buzz

PTI

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