MRPL stake sale, dividend fuel HPCL

Dalal Street Spikes

 According to marketmen, institutions as well as FIIs were active at the counter. The HPCL scrip gained on reports of the company announcing plans to sell its 17 per cent stake in MRPL to ONGC.

 The counter also benefited from reports that oil PSUs were expected to announce bumper interim dividends. The Supreme Court (SC) is also expected to reconsider its earlier ruling on the disinvestment of HPCL and BPCL.

 For the quarter ended 30 September 2003, the company reported a net profit of Rs 443.84 crore, compared with Rs 456 crore in the corresponding quarter last year.