The state-run refiner has purchased the 1-million-barrel cargo of Medanito crude for February delivery from European trader Mercuria, the sources said
F&O Trading, HPCL stock: The stock price has been forming bullish 'Higher Top-Higher Bottom' formation on the weekly chart
State-owned Hindustan Petroleum Corporation Ltd (BPCL) on Monday reported a massive 90 per cent drop in net profit in the June quarter, as refinery margins fell and a fuel price reduction slashed marketing margins. HPCL reported a consolidated net profit of Rs 633.94 crore in April-June -- the first quarter of the current 2024-25 fiscal year -- compared to a profit of Rs 6,765.50 crore a year back, according to a stock exchange filing by the company. Net profit also declined sequentially, when compared to an earning of Rs 2,709.31 crore in the January-March period. Pre-tax earnings from downstream fuel retailing businesses slumped 90 per cent to Rs 907.86 crore. The company and other state-owned fuel retailers -- Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Ltd (HPCL) -- had last year made extraordinary gains from holding petrol and diesel prices despite a drop in cost. The price freeze was justified in the name of recovering losses BPCL and other two retailers ha
Within in PSU space Bernstein prefers ONGC, Coal India, IOC, Bank of Baroda, GAIL, BPCL, Canara Bank, HPCL, Oil India and MRPL.
The S&P BSE Oil & Gas index has been an outperformer, surging nearly 20 per cent in CY24 as compared to the S&P BSE Sensex that has lost around 1 per cent during this period, shows data
IOC is likely to trade on a bullish note as long as the stock sustains above Rs 165, suggests the daily chart.
Shares of OMCs have rallied around 50 per cent in the last two months on the back of strong Q2 earnings. Can a fuel price hike derail the rally? Here's what the chart suggests.
For OMCs, FY24 is turning out to be the best year in terms of earnings, despite the upcoming general elections, according to analysts.
As the demand for petrol and diesel continues to rise due to new vehicle sales, BPCL is moving ahead with its fuel network expansion plans
Iraq and UAE are willing to offer credits for longer periods of time, and they are also located closer to the Indian shores
PSUs have found it challenging to repatriate their dividend incomes from some other Russian oil and gas fields as well, thanks to the Western sanctions
With this decline in crude prices analysts expect marketing margins of HPCL, BPCL and IOCL to improve further.
Stocks to watch today: Bajaj Finance said that new loans booked during Q3FY23 were the highest-ever at 7.8 million
Their expectation is based on the recent action in October by the OPEC of cutting production by 2 million barrels per day. This suggests that the OPEC is looking to defend price, they said
Barring Indian Oil Corp, which gained over 4%, the other two oil marketing companies, BPCL and HPCL, trade with negative returns on YTD basis and have immensely underperformed benchmark indices
Oil prices climbed towards their highest levels in more than seven years on Monday on fears that a possible invasion of Ukraine by Russia could trigger sanctions (on the latter) from US and Europe
The formation of a "Death Cross" on BPCL has disrupted the upside bias lately. Here is how stocks of oil marketing companies look on the technical charts
As per media reports, Saudi Aramco,Rosneft, Exxon Mobil, ADNOC and one Indian private player will be participating in the bidding process for BPCL
With this, new players in the fuel-marketing space like Total, Adani, and Saudi Aramco -- and even super markets -- can open outlets for selling automobile fuel.
PVR, UltraTech Cement, Somany Ceramics, Dalmia Bharat, Bajaj Auto and Bajaj Finserv hit their respective record highs.