HPCL results: Profit plummets 98% to ₹143 crore from ₹5,827 cr in Q2 FY24, revenue up 5%
Sequentially, the profit was down 77.5% from ₹633.94 in the June quarter of FY25.
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In The Global League
India has recently overtaken the U.K. and South Korea to become one of the top five countries with the largest corporations in the world.
Oil stocks rise up 10%; Oil India, ONGC, HPCL lead rally
Shares of Oil India surged as much as 9.3%, while ONGC stock rallied as much as 9.5% as Brent crude oil futures edged lower.
ONGC shares up 2% post Q4 results
For the full fiscal 2023-24, ONGC clocked the highest-ever ₹57,101-crore profit, up 68% compared with ₹34,046 crore profit in the previous year.
HPCL shares jump 3% on bonus issue, dividend payout
The board of HPCL has recommended a bonus issue of 1:2 (one for two) and a final dividend of ₹16.5 per share.
Oil stocks tank up to 8% after cut in petrol, diesel prices; HPCL, BPCL, IOCL, GAIL, ONGC lead fall
OMCs have slashed petrol and diesel prices across the country by ₹2 per litre for the first time in two years since April 2022.
OMCs Face Crude Shocks
State-owned oil marketing companies bore the brunt of high oil prices and suppressed marketing margins in FY23. Cheap Russian supply and softer crude oil prices may change the script in FY24.
HPCL shares are rallying for 10th straight session; here’s why
HPCL shares have gained nearly 26% in the last ten sessions, inching close to its 52-week high of ₹309.85 touched on July 26, 2023.
India Inc.’S Corporate Scorecard
Companies overcome global headwinds and domestic challenges to ride the growth train.
HPCL ties up with Petromin Corporation to install 5,000 EV charging units
In total, the corporation will be investing $700 million in partnership with HPCL in three strategic areas
