Page 5 - Hpcl

BPCL, IOC, HPCL stocks slide 1-3% on reports OMCs may bear LPG subsidy cost

The move is also sentimentally negative for OMC stocks as investors fear that price cuts on petrol and diesel could be next in line ahead of the assembly and general elections

Stocks to Watch on Aug 3: Titan, IndiGo, MMTC, Airtel, Adani Ent, Nykaa

Stocks to Watch today, August 3, 2023: Titan Co reported a lower-than-expected quarterly profit at Rs 770 crore

HPCL net profit zooms to Rs. 6,765 cr in Q1 as marketing margins improve

On a sequential basis, net profit shot up 87 per cent from Rs. 3,608.3 crore in Q4FY23

Hindustan Petroleum results: Net profit at Rs 6,765 cr; income down 1.6%

The total income for Q1FY24 came in at Rs 1,19,761.74 crore, compared to Rs 1,21,829.51 crore year-on-year

Govt to get significant stake in HPCL post preference issue: Officials

Five years after it exited the company, the government is set to get a significant stake in Hindustan Petroleum Corporation Ltd (HPCL) as it looks to infuse equity in fuel retailers that lost money on selling petrol and diesel at discounted rates last year, officials said. The government had in the annual Budget for 2023-24 (April 2023 to March 2024 fiscal) announced Rs 30,000 crore of capital support to state-run fuel retailers -- Indian Oil Corporation (IOC), HPCL and Bharat Petroleum Corporation Ltd (BPCL) -- to support their energy transition and net-zero initiatives. In June, the government asked IOC and BPCL to launch rights issues (to get the capital), and advised HPCL to make a preferential share allotment to the government. Board of IOC earlier this month approved raising up to Rs 22,000 crore by inviting existing shareholders to purchase additional new shares in the company (this type of issue gives existing shareholders securities called rights). BPCL board too has appro

India's gasoline demand likely to recover from late August: HPCL official

The local sale of diesel by private refiners is also denting sales by state-run companies, the official said

Sensex sheds 505 pts from summit, ends 165 pts up; PSU banks crack; IT gain

CLOSING BELL ON JULY 13, 2023: The NSE Nifty50 hit a new high of 19,567, before finishing with a modest gain of 29 points on Thursday. Broader indices ended in red.

HPCL recieves bids to lease part of Chhara LNG terminal on west coast

HPCL aims to commission the terminal, with a planned capacity of 5 million metric tons per year (tpy) in the December quarter, K Sreenivasa Rao told reporters at an event

Indian Oil to raise up to $2.7 billion through rights issue of shares

IOC, the country's top refiner, has not specified which projects the newly raised funds would target

HPCL aims to run Vizag refinery at expanded capacity from early 2024

The two hydrocrackers will upgrade heavier feeds such as vacuum gasoil and bitumen into value-added fuels such as jet fuel, gasoline, and diesel

Power Finance Corp provides Rs 9,187 cr finance to HPCL Rajasthan Refinery

State-owned Power Finance Corporation (PFC) on Thursday said it has provided Rs 9,187 crore finance to HPCL Rajasthan Refinery Ltd. This is the first project where PFC has extended its financial assistance to the refinery and petrochemical sector, a company statement said. PFC is extending its support in nation building not only through the power sector but also in the infrastructure segment, it stated. "PFC, a Maharatna company and India's leading NBFC in the power sector, has extended its financial assistance of Rs 9,187 crore to HPCL Rajasthan Refinery Ltd for its 9 MMTPA refinery-cum-petrochemical complex located at Barmer, Rajasthan," it said. HPCL Rajasthan Refinery Limited (HRRL) is setting up a green-field refinery-cum-petrochemical complex in Barmer district, Rajasthan, at a project cost of Rs 72,937 crore. On July 4, 2023 HRRL executed a loan agreement under a consortium arrangement for Rs 48,625 crore, wherein the share of PFC Ltd was Rs 9,187 crore. HRRL is a Joint Ve

OMCs rally up to 7% on improved outlook; HPCL, IOC scale 52-week highs

In the past one-year, shares of OMCs have risen between 18 per cent and 28 per cent on the back of a fall in crude oil prices. Brent crude prices have corrected 20 per cent in the past one year

Stocks to watch: Adani Transmission, HDFC AMC, ITC, Sun Pharma, Coal India

Stocks to watch on June 20, 2023: From HDFC AMC to Adani Transmission, here are few stocks to watch in Tuesday's trading session

NTPC Green Energy ties up with HPCL Mittal Energy for green hydrogen

State-owned power giant NTPC's arm NTPC Green Energy Ltd and HPCL Mittal Energy Ltd have signed a pact to collaborate in renewable energy and generation of green hydrogen. The two companies envisage to collaborate in the field of Renewable Energy (RE) through sourcing of 250 MW RE-RTC (Round-The-Clock) power to meet the requirement of HPCL Mittal Energy Ltd, and also exploring opportunities in the green hydrogen business & its derivatives (Green Ammonia & Green Methanol). "In order to realise green energy and green hydrogen objectives and the Government of India's efforts towards energy transition, a Memorandum of Understanding (MoU) signed between NTPC Green Energy Ltd (NGEL) and HPCL Mittal Energy Ltd (HMEL) on 19th May 2023," NTPC said in a statement on Friday. The MoU was signed by V V Sivakumar, General Manager at NGEL, and Girish Ghildiyal, General Manager at HMEL. NTPC is India's largest power utility firm, having a core business of power generation with a total ...

HPCL's profit jumps 79% to Rs 3,608 cr on refining, marketing margins

Hindustan Petroleum Corporation Ltd (HPCL) on Friday reported a 79 per cent jump in its March quarter net profit on the back of a recovery in fuel marketing margins and better refining margins. Consolidated net profit was at Rs 3,608.32 crore in January-March compared with Rs 2,018.45 crore in the same period a year back, according to a company's stock exchange filing. The company however posted a loss of Rs 6,980.23 crore for the full fiscal year 2022-23 (April 2022 to March 2023) after it suffered huge losses in the first half on holding petrol, diesel and LPG prices despite a surge in cost. It continues to hold prices but a fall in international oil prices has meant that it is making healthy margins now. Petrol and diesel prices have been on a freeze since April 6 last year. The basket of crude oil that India imports was over USD 100 per barrel in April last year and is now around USD 75-76. Crude oil is processed in refineries such as ones owned by HPCL at Mumbai and Vizag in

Centre to infuse equity in 3 OMCs after they announce capex plans: Report

OMCs, however, are concerned that equity infusion might impact their share price, market valuation and market perception

Unfinished business: ONGC facing question marks over future structure, role

This is an unnecessary overhang, since the company has not been on an investment spree

Opec-plus cut weighs on OMC shares, BPCL and HPCL shed over 4% each

Analysts said Street is worried that sustained oil price hike could put pressure on OMC margins as govt may not pass the entire burden on to customers

Statiq wins order from HPCL for over 500 EV chargers in 12 states

EV charging network provider Statiq on Monday said it has won a contract from public sector oil marketing firm HPCL for setting up over 500 EV chargers across 12 states. Under the contract, the firm will install over 500 chargers, for all types of electric vehicles including two and four-wheelers, at HPCL's outlets spread across Andhra Pradesh, Assam, Chhattisgarh, Gujarat, Himachal Pradesh, Kerala, Madhya Pradesh, Maharashtra, Orissa, Rajasthan, Tamil Nadu and West Bengal, the company said in a statement. Of the total 500 chargers, over 400 chargers will be of 3.3 kw capacity each while a few more than a hundred chargers will be of 7.7 kw capacity each, it stated. "With HPCL undertaking a major and country-wide exercise in terms of setting up EV charging stations at their petrol pumps, we have won this tender and become a part of their EV infrastructure building up journey, said Aman Rehman, head of government relations at Statiq. Statiq last year had installed nearly 200 chargers

HPCL signs pact with BPCL for synergy in purchase, sale of hydrogen

Hindustan Petroleum Corporation Ltd (HPCL) on Thursday said it has signed a pact with Bharat Petroleum Corporation Ltd (BPCL) for synergy in purchase and sale of hydrogen between the refineries the two firms operate in Mumbai. Hydrogen is an essential utility required for treating of diesel and petrol to produce low-emission fuel of Euro-VI or Bharat Stage VI specifications, and is vital for reliable and safe refinery operations. "A Memorandum of Understanding (MoU) was signed between HPCL Mumbai refinery and BPCL Mumbai refinery as part of synergy through purchase and sale of hydrogen," the company said in a statement. The one-of-a-kind strategic partnership between two oil marketing companies is part of synergy for "mutual aid during emergencies and towards environmental impact by minimizing valuable hydrogen flaring," it said. "This initiative envisages cooperation and collaboration as part of synergy in the areas of hydrogen exchange between both refineries for sustained refiner