The counter moved up on buying from funds. HPCL has attracted huge buying interest on the back of most market players anticipating the announcement of a huge interim dividend for FY-2004.
According to market men, interest in state-run refinery stocks has come purely on the hopes that these companies may declare huge interim dividends. This comes after the disinvestment programme coming to a near standstill owing to sustained opposition.
The government is said to have decided to seek interim dividends from profit-making PSU oil companies to fill its cash kitty.
