HPCL rises on inking pact with Chevron

Hindustan Petroleum Corporation Ltd. | Refineries | Oil & Gas | BSE: 500104 | NSE: HINDPETRO

15 Mar 2023 Evaluate

Hindustan Petroleum Corporation is currently trading at Rs. 232.40, up by 3.80 points or 1.66% from its previous closing of Rs. 228.60 on the BSE.

The scrip opened at Rs. 232.55 and has touched a high and low of Rs. 233.30 and Rs. 229.70 respectively. So far 46136 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 306.55 on 11-Apr-2022 and a 52 week low of Rs. 200.00 on 20-Oct-2022.

Last one week high and low of the scrip stood at Rs. 233.30 and Rs. 223.70 respectively. The current market cap of the company is Rs. 33009.62 crore.

The promoters holding in the company stood at 54.90%, while Institutions and Non-Institutions held 35.27% and 9.82% respectively.

Hindustan Petroleum Corporation (HPCL) has entered into a long-term trademark licensing agreement with Chevron Brands International LLC (Chevron), a subsidiary of Chevron Corporation. This collaboration encompasses the licensing, production, distribution, and marketing of Chevron's lubricant products under the Caltex brand, including Chevron's proprietary Havoline and Delo branded lubricant product. The agreement provides for Caltex-branded lubricants to be manufactured, distributed, and marketed in India by HPCL.

Hindustan Petroleum Corporation operates two major refineries producing a wide variety of petroleum fuels and Specialties. The Company also owns and operates the largest lube refinery in the country producing lube base oils of international standards.