
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.
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.
Companies overcome global headwinds and domestic challenges to ride the growth train.
In total, the corporation will be investing $700 million in partnership with HPCL in three strategic areas
Indian state-owned oil and gas companies are investing significantly to increase capacities to boost the country's petrochemical supply.
Among other state-owned OMCs, Oil India, GAIL (India), ONGC shares surged up to 4% amid strong volume trade.
The oil company has secured an order from ONGC Petro Additions Ltd (OPaL) for supply of natural gas to their mega petrochemical complex at Dahej.
Levy on petrol, diesel, and aviation turbine fuel has been kept unchanged at zero
India's public sector oil companies will set up 7,432 public fast charging stations across the country.
India's windfall tax on exports of locally-produced oil has helped reduce the state-owned refining and marketing companies' marketing losses, says Moody's.
OMCs such as IOCL, BPCL, and HPCL are likely to swing back to the black, thanks to sharp narrowing of marketing losses on retail fuels and steady GRMs.