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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.
