 "BPCL hits new high, HPCL nears record high as Q4 profits beat estimates")
Shares of oil marketing companies mainly Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) have rallied by up to 6% each on the bourses after the companies reported better-than-expected results for the March 2015 quarter.
HPCL has surged 6% to Rs 674, less than 2% away from its record high of Rs 686 on the NSE, after posting a net profit at Rs 2,162 crore against average analyst estimates of Rs 1,341 crore. The board has recommended a final dividend of Rs 24.50 per share.
BPCL was up 3.4% to Rs 846 after reporting net profit of Rs 2,853 crore against analyst estimate of Rs 1,813 crore. The stock touched a new high of Rs 852 on the NSE in early morning trades. The board has recommended a dividend Rs. 22.50 per share.
HPCL has surged 6% to Rs 674, less than 2% away from its record high of Rs 686 on the NSE, after posting a net profit at Rs 2,162 crore against average analyst estimates of Rs 1,341 crore. The board has recommended a final dividend of Rs 24.50 per share.
BPCL was up 3.4% to Rs 846 after reporting net profit of Rs 2,853 crore against analyst estimate of Rs 1,813 crore. The stock touched a new high of Rs 852 on the NSE in early morning trades. The board has recommended a dividend Rs. 22.50 per share.