Live
- Police Sports & Games Meet commences
- Yuva Kabaddi Series: Himalayan Tahrs remain on top; Ranchi Rangers get first win of Division 3
- Drinking water problems loom large on Holagunda mandal
- 435 mobile phones worth Rs 87 lakh recovered
- Sonu Sood Talks About Laapataa Ladies Failing to Make the Oscar 2025 Cut
- US Senate passes annual defence policy bill, sending it to Biden for signing
- Pushpagiri Maha Samsthanam Pontiff visits Tirumala
- HIL: 'Jr Asia Cup was a huge confidence booster', says Odisha forward Kanika
- TUDA V-C inspects TUDA Towers
- Sensex Drops 1,100 Points as US Fed Signals Caution on Rate Cuts
HPCL jumps in trade after better than expected Q2 results
Hindustan Petroleum Corporation Limited (HPCL) continued its upward journey and was up 8 per cent in trade on Wednesday on the back of strong results.
New Delhi: Hindustan Petroleum Corporation Limited (HPCL) continued its upward journey and was up 8 per cent in trade on Wednesday on the back of strong results.
HPCL was up more than 6 per cent on Tuesday while Indian Oil was up more than 5 per cent.
HPCL was up 8.3 per cent at Rs 302 on BSE. BPCL was up more than 3 per cent.
Hindustan Petroleum Corporation (HPCL) reported better than expected Q2 results with EBITDA of Rs 82.2bn and PAT of Rs 51.2bn.
Refining margins and gross marketing margins(GMM) came in higher than estimates at US$13.3/bbl and Rs 5.9/ltr. Going ahead, we build in GRMs of US$6/bbl and GMM of Rs 4.5/ltr for FY25-26E, Prabhudas Lilladher said in a report.
HPCL commissioned the fully convertible hydrocracker unit at Vizag, which will help improve distillate yields. The refinery will ramp up to 13 -13.5 mmt in Q3. 72 per cent work on Rajasthan refinery has been completed and operations are expected to commence in CY24. Capex of Rs 370bn out of total cost of Rs 730bn has already been incurred. GRM of US$20/bbl can be expected post commissioning.
HPCL is the largest vendor of ethanol in the country and has achieved 12 per cent blending. CBG plant in Uttar Pradesh has been commissioned and is in the advanced stage of commissioning CBG retailing. The company has 22,000 retail outlets and 9.3 crore LPG customers, the report said.
