BPCL, Indian Oil Corporation and HPCL rose by 0.71% to 0.97% at 12:00 IST on BSE after they signed a consortium agreement to carry out pre-project activities for setting up of a west coast refinery & petrochemical project.
The announcement was made after market hours yesterday, 7 December 2016.Meanwhile, the S&P BSE Sensex was up 365.99 points or 1.39% at 26,602.86.
BPCL (up 0.71%), Indian Oil Corporation (IOCL) (up 0.94%) and HPCL (up 0.97%) gained.
BPCL, Indian Oil Corporation and HPCL have separately informed that they signed a consortium agreement on 7 December 2016 to carry out pre-project activities for setting up of a West Coast Refinery & Petrochemical project of approximately 60 million metric tonne per annum (MMTPA) capacity in Maharashtra through a joint venture company.
BPCL reported 26.2% rise in net profit to Rs 1305.18 crore on 3.4% fall in net sales to Rs 44646.41 crore in Q2 September 2016 over Q2 September 2015.
IOCL reported net profit of Rs 3121.89 crore in Q2 September 2016 compared with net loss of Rs 450.24 crore in Q2 September 2015. Net sales fell 5.1% to Rs 80043.54 crore in Q2 September 2016 over Q2 September 2015.
HPCL reported net profit of Rs 701.32 crore in Q2 September 2016 compared with net loss of Rs 317.13 crore in Q2 September 2015. Net sales was almost unchanged at Rs 42030.64 crore in Q2 September 2016 over Q2 September 2015.
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