HOEC spurts after turnaround in Q3

Hindustan Oil Exploration Company surged 7.14% to Rs 30.75 at 11:57 IST on BSE after the company reported net profit of Rs 4.26 crore in Q3 December 2015 as against net loss of Rs 118.01 crore in Q3 December 2014.

The result was announced after market hours yesterday, 18 January 2016.

Meanwhile, the S&P BSE Sensex was up 193.52 points or 0.8% at 24,381.89.

On BSE, so far 3.13 lakh shares were traded in the counter as against average daily volume of 2.05 lakh shares in the past one quarter. The stock hit a high of Rs 31.65 and a low of Rs 30.25 so far during the day. The stock had hit a 52-week low of Rs 28.50 yesterday, 18 January 2016. The stock had hit a 52-week high of Rs 54.50 on 25 Febraury 2015. The stock had underperformed the market over the past one month till 18 January 2016, sliding 14.96% compared with Sensex's 5.22% fall. The scrip had also underperformed the market in past one quarter, declining 22.75% as against Sensex's 11.12% fall.

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

Hindustan Oil Exploration Company's (HOEC) net sales declined 38.5% to Rs 6.11 crore in Q3 December 2015 over Q3 December 2014.

HOEC has a wholly owned subsidiary, HOEC Bardahl India, engaged in marketing of high performance fuel/engine additives.

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