HPCL rises as Gulf firms eye stake

DALAL STREET SPIKES

Shares of Hindustan Petroleum Corporation (HPCL) rose 3.8 per cent to Rs 247.45 On Wednesday on reports that Saudi Aramco and Kuwait Petroleum Corporation are in talks with the company to replace Lakshmi Mittal's stake in the planned $10-billion refinery-cum-petrochemicals project in Visakhapatnam.

The stock hit an intraday high of Rs 250 and a low of Rs 236. The stock witnessed trading volumes of around 332,791 shares, about five times higher than its two-week average. The stock touched a 52-week high of Rs 405 (January 4) and a low of Rs 164.1 (October 27).