Crude oil fall boosts HPCL 4.2%

The scrip of Hindustan Petroleum Corporation (HPCL) rose 4.2 per cent to Rs 270.8 today as crude oil prices fell to $37 a barrel. The fall in crude oil would help oil marketing companies such as HPCL to lower their under-recoveries. Global oil prices are dipping further on concerns that further production cuts by OPEC may not be able to offset the weak demand.

The stock hit an intra-day high of Rs 273.9 and a low of Rs 260.15 with trading volumes of 4.86 lakh shares. The scrip hit its 52-week high of Rs 356.5 on January 15 and a low of Rs 164.1 on October 27.