So far in this calendar year, BPCL and HPCL have tumbled 13 per cent, and 14 per cent, respectively. However, frontline indices Nifty50 and the S&P BSE Sensex have remained flat during the same period
Global cues will be important as geopolitical concerns are rising whereas both domestic and global macro numbers will play an important role, says an analyst
L N Mittal-backed HPCL-Mittal Energy and govt-owned companies remain in contention for the bankrupt firm
According to the technical analyst from Anand Rathi, Hindustan Petroleum can be bought near Rs 237, while Whirlpool of India should be bought above Rs 1,680.
The bias for Reliance remains positive, with strong support seen at the 50-WMA, below which the next significant support is at Rs 2,350.
After over five months, Oil and Natural Gas Corporation (ONGC) has finally got a director appointed on the board of Hindustan Petroleum Corporation Ltd -- a firm it had acquired for Rs 36,915 crore
According to petroleum dealers, BPCL and HPCL have restricted the fuel supply and are providing only 33 per cent oil of the total demand which is triggering the fuel crisis.
For over five months now, Oil and Natural Gas Corporation (ONGC) has had no representative on the board of Hindustan Petroleum Corporation Ltd
According to the technical analyst from Anand Rathi, Elecon has confirmed a range breakout while HPCL seems to be testing support at its long-term trend line.
CLOSING BELL: Dr Reddy's Labs, JSW Steel, Nestle India, Tata Motors, Tata Steel, Cipla, Adani Ports, L&T, RIL, Axis Bank, and SBI led from the front, rallying over 3.5 per cent each
HPCL CMD said the company earned $12.44 on turning every barrel of crude oil into fuel in Q4FY22 as against a gross refining margin GRM of $8.11 per barrel in the same quarter a year back
India, the world's third biggest oil importer and consumer, is struggling like much of the rest of the world with inflation at multi-year highs, and is keen to cut its import bill
As per media reports, the government is considering selling a 20-25 per cent stake in BPCL instead of its entire 53 per cent holding, previously under divestment process.
Pushp Kumar Joshi on Sunday took over as the new chairman and managing director of India's third largest oil refining and fuel marketing company Hindustan Petroleum Corporation Ltd (HPCL).
Seven companies had put in 21 bids for city gas licences in five areas in states like Uttar Pradesh and West Bengal
Petrol and diesel prices remained unchanged between Nov 4 and March 21 despite prices of crude oil averaging around $111 per barrel in the first 3 weeks of March compared to around $82 in early Nov
Retail prices of petrol and diesel had been on a freeze since October 2021 when crude oil prices were hovering around $80 a barrel
Dual diesel rates will be distortionary
Western sanctions on Russia over its invasion of Ukraine has prompted many companies and countries to shun its oil. This has led to Russian crude being available in the market at deep discounts
Hindustan Petroleum Corp Ltd has made a rare purchase of 2 million barrels of Russian Urals crude for loading in May, trade sources said.