Hopes of an early disinvestment pushed the HPCL counter higher today, as foreign institutional investors bought into the scrip.
The stock closed 1.45 per cent higher at Rs 311.65, after opening at Rs 306 and touching a high of Rs 314.95 during intra-day deals.
Around 15.48 lakh shares of the company changed hands on the BSE, while 34.35 lakh shares were traded on the NSE. The scrip has risen by over 7 per cent since the beginning of this month.
Apart from the disinvestment story, huge dividend pay-outs from the company are also expected.
Meanwhile, an inter-ministerial group is expected to meet on Thursday to announce the names of the bidders who have been shortlisted.
Foreign companies that have put in their bids are ChevronTexaco, Malaysia
