| Hindustan Petroleum Corporation Ltd.(HPCL) Related news |
IOC, BPCL,HPCL to borrow more to keep up capital spend:Moody’s
Posted on 19th September 2017 |
.jpg) |
New Delhi: State-owned fuel retailers Indian Oil Corp. (IOC), Bharat Petroleum Corp. Ltd (BPCL) and Hindustan Petroleum Corp. Ltd (HPCL) will go in for increased borrowings to sustain high dividend payments and capital spending this fiscal, keeping their credit metrics weak, Moody’s Investors Service said on Tuesday. The rating agency expected dividend payments by the three companies to drop modestly in 2017-18, but remain higher than in 2015-16. The government expects to receive Rs67,500 crore of dividends from all state-owned companies in 2017-18, less than Rs77,000 crore estimated to have been received in 2016-17, but more than double than Rs30,800 crore in 2015-16. |
|
|
Govt panel deciding valuation for ONGC's HPCL acquisition: M K Surana
Posted on 18th September 2017 |
.jpg) |
The government has formed an advisory panel that would decide the valuation for Oil and Natural Gas Corporation (ONGC) buying the 51 per cent stake in Hindustan Petroleum Corporation (HPCL), said its Chairman and Managing Director M K Surana. Union Finance Minister Arun Jaitley is heading the three-member ministerial panel to oversee and expedite the sale of the government stake. |
|
|
IOC, BPCL, HPCL stock dives as government may ask PSUs to bear further increase in oil price
Posted on 13th September 2017 |
.jpg) |
Shares of the IOC, BPCL, and HPCL tumbled on the news that government may ask the oil marketing companies to absorb further increase in global crude oil prices. The stock of the nation’s largest company Indian Oil Corporation fell as much as 6.2% to the day’s low of Rs 408; shares of another state-run refiner Bharat Petroleum Corporation plunged 8.4% to the day’s low of Rs 489. Shares of Hindustan Petroleum Corporation lost 8% to the day’s low of Rs 443.7. |
|
|
IGL, IOC-Adani, HPCL-Oil India set to win gas distribution licences
Posted on 6th September 2017 |
.jpg) |
NEW DELHI: Indraprastha Gas (IGL), Indian Oil-Adani Gas combine and Hindustan Petroleum-Oil India joint venture are set to win licences to distribute gas in one city each in the latest round of auction, according to people with direct knowledge of the matter. In the much delayed 8th round city gas bidding, licences for gas distribution in Karnal, Haryana is set to go to IGL. |
|
|
HPCL gets ministry’s nod to pilot composite LPG cylinders in three cities
Posted on 26th August 2017 |
.jpg) |
After years of dithering, composite liquefied petroleum gas (LPG) bottles are set to be tested in the Indian markets, with the state-run Hindustan Petroleum (HPCL) getting the go-ahead from the ministry of petroleum and natural gas. Though attempts to test the fibre-made bottles, safer and lighter than the metallic cylinders in use, can be traced back to 2012, these haven’t hit the market yet due to the lack of requisite approvals from various agencies such as Indian Standards Institute. The relatively higher cost of the composite cylinders has also been hurdle. “The ministry has given permission to HPCL for testing the cylinders,” said a ministry official requesting anonymity. |
|
|
ONGC board approval for acquiring HPCL props up shares of both oil PSUs
Posted on 22nd August 2017 |
.jpg) |
Shares of PSU oil majors Oil and Natural Gas Corp and Hindustan Petroleum Corp jumped today after the giant exploration company’s board approved the acquisition of 51% equity stake in the refining and marketing firm from the government. ONGC shares rose as much as 1.6% to Rs 160.1 on BSE, while HPCL shares were trading up over 3.6% at Rs 450. Earlier yesterday, ONGC’s board of directors in a meeting held on 21 August 2017, gave an in-principle approval for acquisition of 51.11% equity stake of HPCL. |
|
|
Govt tweaks HPCL's terms of sale to ONGC to avoid 'open offer'
Posted on 9th August 2017 |
.jpg) |
The government has tweaked the terms of sale of its 51.11 per cent stake in HPCL to ONGC by including phrases that will help avoid triggering an open offer, an official said. The Cabinet Committee on Economic Affairs (CCEA) had on July 19 granted 'in-principle' approval for strategic sale of the government's existing 51.11 per cent stake in Hindustan Petroleum Corp Ltd (HPCL) to Oil and Natural Gas Corp (ONGC) "along with the transfer of management control, which will result in HPCL becoming a subsidiary company of ONGC". |
|
|
HPCL net hit by decline in crude prices
Posted on 5th August 2017 |
.jpg) |
New Delhi, Aug. 4: Inventory losses pulled down HPCL's net profit 56 per cent to Rs 925 crore in the first quarter of the current financial year. "We had an inventory loss of Rs 1,595 crore in the first quarter of the current fiscal compared with an inventory gain of Rs 1,935 crore in the corresponding period of the previous year," HPCL chairman and managing director M.K. Surana told reporters here. |
|
|
HPCL Q1 net drops 56% at Rs 925 cr on high inventory loss
Posted on 4th August 2017 |
.jpg) |
State-run Hindustan Petroleum Corporation posted a 56% drop in net profit for the first quarter of the financial year 2017-18 ended June 30 at Rs 924.75 crore, as against Rs 2,098.38 crore during the same time last year. Meanwhile, the company's revenue for the period under review saw a 13 per cent increase to Rs 59,891.27 crore compared to Rs 51,599.52 crore during the April to June quarter of 2016-17. |
|
|
Indian Oil, HPCL, BPCL gain on report of kerosene subsidy removal
Posted on 3rd August 2017 |
.jpg) |
Shares of state-owned oil refiners rallied by up to 5% on BSE in intra-day trade on report that the government will end subsidy on kerosene. Indian Oil Corporation (IOC) gained 5% to Rs 388, while Hindustan Petroleum Corporation (HPCL) surged 4.4% to Rs 401 and Bharat Petroleum Corporation (BPCL) rose 3% to Rs 499 on BSE in intra-day trade. On comparison, the S&P BSE Sensex was down 159 points or 0.49% at 32,318 at 10:25 am. |
|
|
|
|
|
|
|
|
