HPCL tanks 18% from record high, nears 200-DMA; lags BPCL, IOC; show charts

HPCL has retreated sharply from its all-time high, and also underperformed its peers BPCL and IOC in the month of January thus far. Tech chart shows the stock is trading at the 200-DMA on Friday.

Hindustan Petroleum (HPCL) stock has retreated sharply from its all-time high of ₹508.45 hit on January 5, 2026. The stock has shed as much 18 per cent as it dropped to an intra-day low of ₹416.45 in Friday's trading session on the NSE. In the process, the stock has dropped near its 200-day moving average (200-DMA) on the chart.  HPCL stock has closed in red in 15 out of the 17 trading sessions thus far in the month of January; thus highlighting a likely selling bias at the counter.  Share price data shows that HPCL stock has significantly underperformed the market and its oil marketing peers - BPCL and Indian Oil Corporation (IOC) in the month of January. As against a near 16 per cent fall in HPCL share price, BPCL and IOC are down 7.7 per cent and 5.2 per cent, respectively. Whereas, the NSE benchmark Nifty 50 index has dipped 3.5 per cent so far in the same period.  ALSO READ | GRSE, Swiggy, Jio Fin, 2 other stocks form 'Death Cross', show tech charts  In Thursday's trading session, HPCL stock was down 2.5 per cent, while BPCL and IOC dipped 0.5 per cent and 1.5 per cent, respectively. The Nifty declined 0.6 per cent.   For the recently concluded December quarter, HPCL reported 57.7 per cent year-on-year (YoY) growth in consolidated net profit at ₹4,011 crore; backed by a 5 per cent growth in revenue at ₹1.25 lakh crore. READ MORE    Post Q3 earnings, Nomura maintained its 'Buy' rating on the stock, but with a lower price target price of ₹550 per share as against ₹580 earlier. The brokerage firm raised FY26F EBITDA by 3 per cent, in anticipation of higher marketing margins in line with current trends; but fear it could be partly offset by higher LPG under-recovery estimates on higher imported propane cost.  

 

  Similarly, analysts at YES Securities have upgraded the rating on HPCL from 'Add' to 'Buy' with a revised target price of ₹522 per share.  The brokerage firm in its report said that HPCL stock trades at 6.2/5.9x FY27e/28e EV/EBITDA and 1.4/1.2x P/BV. A dividend yield of 4.2/4.7% FY27e/28e would be key for the shareholders, following the high dividend and bonus issue in FY25. Thus, they upgraded the rating to FY28 with a revised TP of ₹522 valuing it on SOTP (core business at 1.25x P/BV and investments at ₹91).  Meanwhile, here's how HPCL, BPCL and IOC are placed on technical charts: 

HPCL stock chart

Current Market Price: ₹417 

 

  The daily chart shows that HPCL stock is seen testing the 200-DMA, which stands at ₹417.35 for the first-time since June 2025. 

BPCL stock chart

Current Market Price: ₹353 

 

  BPCL stock is seen holding near its 100-DMA, which stands at ₹347; while the 200-DMA stood at ₹327. 

IOC stock chart

Current Market Price: ₹156.50 

 

  IOC stock is seen trading above the 100-DMA, which stands at ₹154.40; and fairly above the 200-DMA, which stands at a distance at ₹145.71, shows the daily chart.