Hindustan Petroleum Corporation Limited, India's second largest public sector oil company has signed up fast bowler Zaheer Khan to endorse its lube brands.\n\n
BPCL gained nearly 4% to Rs 674, while HPCL gained more than 2% to Rs 451.
Private sector low cost airline SpiceJet has entered into a strategic tie-up with Hindustan Petroleum Corp Ltd to sell air-tickets through the latter's petrol stations.
Tennis icon Sania Mirza was on Friday roped in by Hindustan Petroleum Corporation for endorsing its retail brands.\n\n
State-run Bharat Petroleum Corp has offered to take Hindustan Petroleum Corp as equal partner in the Rs 6,354 crore (Rs 63.54 billion) Bina refinery in Madhya Pradesh.
HPCL and BPCL receded on Friday as the clouds of uncertainty still loom large over their divestment what with major political opposition proving tenacious.
'Those betting against PSUs will likely be punished in this upswing.'
With yet another victim succumbing to burn injuries at a city hospital on Wednesday, the death toll in last month's fire at the Hindustan Petroleum Corporation Ltd's complex has risen to 27.
The shutdown of the gasoline making units would result in the production of high sulphur gasoline that cannot be sold in India.
NRI steel tycoon Lakshmi N Mittal may partner with Hindustan Petroleum Corp Ltd in the state-run firm's under-construction $3 billion refinery at Bhatinda in Punjab.
State-owned fuel retailers are losing close to Rs 3 per litre on selling diesel while the profit on petrol has trimmed due to recent firming up in international oil prices, industry officials said detailing reasons for continuing to hold retail prices. Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), who control roughly 90 per cent of India's fuel market, 'voluntarily' have not changed petrol, diesel and cooking gas (LPG) prices for almost two years now, resulting in losses when input cost was higher and profits when raw material prices were lower.
HPCL was sought after in early trades on Wednesday as media reports suggested that the company's divestment is likely to be wrapped up by June 2003.
Petrol and diesel prices were cut by Rs 2 per litre each as state-owned oil companies ended a nearly two-year-long hiatus in rate revision, just hours before the general election schedule was announced.
State-owned HPCL will set up a 100 MW wind park and launch pilot projects for bio-diesel production - moves that could deliver significant cost advantages to the company.
HPCL is the largest supplier of jet fuel to Kingfisher.
Hindustan Petroleum Corporation has proposed to shed about 11 per cent of its workforce by offering the surplus staff a VRS, the Rajya Sabha was informed on Tuesday.
The Supreme Court on Tuesday restrained the government from going ahead with the divestment of Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation Ltd without Parliament approval.
Saudi Aramco will bid government's 34.01 per cent stake in oil refiner Hindustan Petroleum Corporation Ltd.
After Reliance Industries Ltd and its partner bp plc of the UK, Nayara Energy - the nation's largest private fuel retailer - has started selling petrol and diesel at Re 1 less than the fuel sold by state-owned retailers, officials said. While state-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) continue to hold prices despite a drop in international rates, private fuel retailers have started passing on the benefit to consumers. "To further stimulate domestic consumption and cater to local customers better, we have introduced a Re 1 discount in our retail outlets until the end of June 2023," a spokesperson for Nayara Energy said.
The post-Covid pandemic boom in corporate revenues appeared to have faded away in 2023-24. Yet, companies have reported a sharp recovery in their profits in FY24, driven by high margins. Their combined net sales, including gross interest income for lenders, rose by a modest 4.8 per cent year-on-year (Y-o-Y) in FY24.
HPCL and BPCL were compelled downward today as marketmen reckon that their divestment may not even take place in the current calendar.
ChevronTexaco has bid for a stake in state-run Hindustan Petroleum Corp Ltd, India's second-largest oil refiner and retailer.
HPCL was piped to gains on Wednesday on reports that at least 12 multinationals and domestic companies have presented initial bids for the Centre's 34.01% stake in the company.
HPCL is Kingfisher Airline's largest aviation turbine fuel supplier.
India-born billionaire Lakshmi N Mittal may take 49 per cent stake in Hindustan Petroleum Corp Ltd's under-construction $3 billion refinery at Bhatinda in Punjab.
Following up on Finance Minister Arun Jaitley's Budget announcement of creating an integrated oil company, India's biggest oil and gas producer ONGC may buy all of the government's 51.11 per cent stake in Hindustan Petroleum Corporation Ltd.
HPCL is now ready to increase the stake of the state government up to 49 per cent.
The long-delayed Bhatinda refinery project of Hindustan Petroleum Corporation Limited crossed another significant milestone on Wednesday, with the award of the project management consultancy contract to Engineers India Ltd.
State-run Hindustan Petroleum Corporation Ltd on Wednesday said it was in advanced stages of talks with Shell India for picking up stake in its Hazira LNG terminal in Gujarat and a deal was possible this fiscal.
'He was the best court craftsman that I have ever seen who could modulate his arguments in accordance with the judge and the mood.'
State-run Hindustan Petroleum Corporation is eyeing oil blocks in African countries, its Chairman and Managing Director, Subir Roy Choudhari said on Friday.
The top 100 companies have accounted for 63% of the gains (Rs 51 trillion out of Rs 81 trillion), while firms beyond the top 100 have contributed 37 per cent (Rs 30 trillion).
HPCL staff threaten to block due diligence
Oil and Natural Gas Corporation is likely to buy 16.95 per cent stake of Hindustan Petroleum Corporation Ltd in Mangalore Refinery and Petrochemicals Ltd for about Rs 550 crore.
HPCL, Bharat PetroResources Ltd -- a unit of state-owned Bharat Petroleum Corporation, Gujarat State Petroleum Corporation and Videocon Industries each have 14 per cent interest in the block.
Indian Oil Corporation (IOC) on Tuesday reported halving of its March quarter net profit largely because of losses in the petrochemical business and shrinking margin after it announced a pre-election fuel price cut despite rising input costs. The net profit of Rs 4,837.69 crore in January-March compared to Rs 10,058.69 crore a year back and Rs 8,063.39 crore in the preceding October-December quarter, according to a stock exchange filing by the company.
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