HOEC recovers after 5-day 31.2% slide

Meanwhile, the S&P BSE Sensex was down 15.40 points or 0.08% at 19,530.38.

On BSE, 67,000 shares were traded in the counter as against average daily volume of 2.99 lakh shares in the past one quarter.

The stock hit a low of Rs 43.20 so far during the day, which is a 52-week low for the counter. The stock hit high of Rs 45.70 so far during the day. The stock had hit a 52-week high of Rs 140 on 5 July 2012.

The stock underperformed the market over the past one month till 4 June 2013, sliding 26.47% compared with the Sensex's 0.15% fall. The scrip had also underperformed the market in past one quarter, declining 23.49% as against Sensex's 3.54% gain.

The small-cap oil exploration firm has equity capital of Rs 130.49 crore. Face value per share is Rs 10.

Shares of Hindustan Oil Exploration Company (HOEC) had tanked 31.21% in five trading sessions to settle at Rs 44.30 on Tuesday, 4 June 2013, from a recent high of Rs 64.40 on 28 May 2013.

HOEC reported net loss of Rs 28.33 crore in Q4 March 2013, as against net profit of Rs 7.55 crore in Q4 March 2012. Net sales rose 28.5% to Rs 33.36 crore in Q4 March 2013 over Q4 March 2012.

HOEC was incorporated in 1983 for taking up Exploration and Production (E&P) activities. The company has participating interest in nine oil/gas fields in India (in Cambay basin, Cauvery basin, Assam Arakan basin and Rajasthan basin), which are in varying stages of E&P life cycle i.e. exploration, development and production.

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