HPCL rallies 8%, hits 52-week high on strong March quarter results

The company announced final dividend of Rs 22.75 per share, and it also completed its share buyback program on April 20, 2021

Shares of Hindustan Petroleum Corporation (HPCL) rallied 8 per cent and hit a 52-week high of Rs 288.15 on the BSE in intra-day trade on Friday after reporting many-fold jump in its March quarter (Q4FY21) net profit to Rs 3,018 crore on the back of inventory gains and rise in refining margins. The state-owned oil marketing company had a net profit of Rs 27 crore in January-March 2020 (Q4FY20).

The company announced final dividend of Rs 22.75 per share, translating to dividend yield of 9 per cent for FY21. It also completed its share buyback program on April 20,