Published on 13/07/2017 1:10:39 PM | Source: Dion Global Solutions Ltd.

HPCL extends rally on merger buzz

Posted in Stock On The Move | #Hindustan Petroleum Corporation Ltd #Oil and Gas Sector #Stock On The Move


Shares of state-run oil marketing company Hindustan Petroleum Corporation Limited (HPCL) rallied over 6 per cent on the Bombay stock Exchange after media report suggested that government may complete ONGC-HPCL merger by the end of FY18. Extending rally on merger buzz, shares of HPCL gained as much as 6.31 per cent to hit intra-day high of Rs 359.30 apiece on the Bombay Stock Exchange. The stocks were currently trading at Rs 376.00 against previous close price of Rs 160.30. In a similar fashion, shares of the company were trading 5.01 per cent higher at Rs 377.25 apiece on the National Stock Exchange.

Cheering the news, shares of Hindustan Petroleum Corporation Ltd (HPCL) advanced as much as 2.80 per cent to hit intra-day high of Rs 352.00 apiece on the Bombay Stock Exchange. The stocks were currently trading at Rs 351.50 against previous close price of Rs 341.95. Meanwhile, the broader benchmark BSE Sensex was trading at 32,014.75, up 209.93 points, or 0.66 per cent, at 12:45 hours.