Stocks to Watch, Jan 10, 2025: TCS, IREDA, Tata Elxsi will be in focus post their Q3 results, also, Swiggy, Zomato, Vi and others will be on the radar
Amazon India on Monday said it has signed an initial pact with state-owned Hindustan Petroleum Corporation Ltd for pushing the development and adoption of Low Carbon Fuels (LCFs) for long-haul transportation in India. Under the collaboration, HPCL and Amazon will conduct a pilot to test fuels in the latter's long-haul transport vehicles and explore the possibilities of fuelling hubs and mobile refuelling stations for easy access to LCFs, Amazon India said. This alliance marks a significant step towards reducing carbon emissions in the transportation sector and also aligns with Amazon's global commitment to achieving net-zero carbon across its operations by 2040, contributing to India's national goal of net-zero carbon by 2070, Amazon India said. "Biofuels are key to India's energy transition and are set to contribute to jobs and economic growth. Amazon's collaboration with HPCL is a step toward empowering this transformational shift. "In line with The Climate Pledge's global goal t
State-owned Hindustan Petroleum Corporation Ltd (BPCL) on Friday reported a massive 97.5 per cent drop in net profit in the September quarter, as refinery margins fell and marketing margins shrunk. HPCL reported a consolidated net profit of Rs 142.67 crore in July-September -- the second quarter of the current 2024-25 fiscal year -- compared to a profit of Rs 5,826.96 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 633.94 crore in the April-June period. Pre-tax earnings from downstream fuel retailing businesses slumped to Rs 1,285.96 crore from Rs 6,984.60 crore in July-September 2023. 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 the
Technical chart shows that the key momentum oscillators for these 5 NSE stocks have turned negative; In case of a pullback, here are the key resistance levels for these 5 stocks.
A fall in oil prices is beneficial to OMCs as their costs for acquiring crude oil for refining drop
HPCL share price today hit a record high of Rs 447.65 per share as it rallied 5 per cent on the BSE in Wednesday's intraday trade
The government on Wednesday named interim chairmen for top oil firms, Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation Ltd (HPCL), as appointment of full-time heads is work in progress. Satish Kumar Vaduguri, Director (Marketing), IOC has been appointed interim chairman of the company for three months starting September 1, an oil ministry order said. He replaces Shrikant Madhav Vaidya who completes his extended term at month-end. In a separate order, the ministry appointed Rajneesh Narang, Director (Finance), HPCL as the chairman and managing director of the company for three-month period starting September 1. He would replace Pushp Kumar Joshi who superannuates on completion of 60 years of age on August 31. With government headhunter PESB not finding anyone suitable, three-member search-cum-selection committees are looking for heads at both IOC and HPCL. On August 11, the panel interviewed nearly a dozen candidates and is learnt to have zeroed in on Sandeep Gupta
Gross refining margins fell to $5.03 per barrel even as market sales rose
The government headhunter PESB has rejected all candidates it interviewed for the top job at Hindustan Petroleum Corporation Ltd (HPCL), the third instance in as many years that the board has not found any suitable candidate for the role in a state oil firm. The Public Enterprises Selection Board (PESB) on June 14 interviewed eight candidates, including a director on the HPCL board and managing director of Indraprastha Gas Ltd (IGL), but rejected them all. "The Board did not recommend any candidate for the post of chairman and managing director (CMD) HPCL and advised the Ministry of Petroleum & Natural Gas to choose an appropriate course of further action for selection, including the Search-Cum-Selection Committee (SCSC) or as deemed appropriate with the approval of the competent authority," the PESB panel said in a notification. The HPCL CMD post will fall vacant on September 1, 2024, when the incumbent Pushp Kumar Joshi retires on attaining a superannuation age of 60 years. The .
MG Motor India on Wednesday said it has joined hands with Hindustan Petroleum Corporation Ltd (HPCL) to expand EV charging infrastructure across the country. As per the collaboration, MG and HPCL will together install 50kW/60kW DC fast chargers at key locations covering highways and cities across India, the automaker said in a statement. The partnership focuses on providing convenience to EV users by increasing the availability of EV chargers during their long distance and intercity commutes, it added. "HPCL's vast network and significant presence in India will ensure that existing and prospective EV users across the country have convenient access to our charging solutions," MG Motor India Chief Growth Officer Gaurav Gupta said. HPCL Chief General Manager - Highway Retailing Rajdip Ghosh said the company has a nationwide network of over 22,000 fuel stations and is committed to a sustainable future by providing green fuel to the customers. Furthermore, HPCL aims to install 5,000 ..
State-owned fuel retailers Indian Oil Corporation, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd reported bumper profits totalling about Rs 81,000 crore in FY24, which far exceeded their annual earning in pre-oil crisis years. The combined standalone net profit of IOC, BPCL and HPCL in April 2023 to March 2024 (FY24) was better than their annual earning of Rs 39,356 crore in pre-oil crisis years, regulatory filings by them showed. All the three companies posted the highest ever standalone as well as consolidated net profit in FY24. The retailers have resisted calls to revert to daily price revision and pass on softening in rates to consumers on grounds that prices continue to be extremely volatile - rising on one day and falling on the other - and that they needed to recoup losses incurred in the year when they kept rates lower than cost. IOC in 2023-24 posted a standalone net profit of Rs 39,618.84 crore, according to the company's regulatory filing. Thi
Annual net profit for FY24 rises to a record Rs 16,014 crore; 1:2 bonus shares announced
Hindustan Petroleum Corporation Ltd (HPCL) on Thursday reported a 25 per cent fall in its March quarter net profit on lower refining margins and announced one bonus share for every two shares held. Its consolidated net profit of Rs 2,709.31 crore in January-March - the fourth quarter of the 2023-24 fiscal - compares to Rs 3,608.32 crore in the same period of the previous financial year, according to a company's stock exchange filing. The firm earned USD 6.93 on turning every barrel of crude oil into fuel in the quarter against the USD 8.50 per barrel refining margin in the preceding quarter. HPCL board also approved a 1:2 bonus issue - 1 share for every 2 shares held. Turnover was higher at Rs 1.22 lakh crore when compared to Rs 1.15 lakh crore in January-March 2023. For the full 2023-24 fiscal, HPCL reported a record net profit of Rs 16,014.61 crore as opposed to a loss of Rs 6,980.23 crore in the previous year.
Brent crude price has surged nearly 10 per cent over the past one month, and are hovering near their highest level since October 2023
Tata Passenger Electric Mobility on Wednesday said it has tied up with Hindustan Petroleum Corporation Ltd to set up 5,000 public charging stations across the country by the end of the year. The collaboration will leverage Hindustan Petroleum Corporation Ltd (HPCL's) fuel station network and company's insights from over 1.2 lakh Tata EVs on Indian roads, to set up chargers at locations frequently visited by Tata EV owners, Tata Passenger Electric Mobility (TPEM), a unit of Tata Motors, said in a statement. Both entities have inked an Mou in this regard, it added. The companies are also exploring the introduction of a convenient payment system through a co-branded RFID card, which will make the charging experience hassle-free. HPCL has a nationwide network of over 21,500 fuel stations and aims to install 5,000 electric vehicle charging stations by December 2024. "This strategic partnership with HPCL emphasises our dedication to advancing India's EV ecosystem in which the growth of
Private and state-run processors including the biggest - Indian Oil Corp. - have stopped taking cargoes if they're on Sovcomflot tankers
Analysts expect OMCs to trade lower in the near-term given the retail price cut and elevated brent crude prices of $85/bbl
The state-run company expects the refinery to reach full capacity in about a year's time, Bharatan told Reuters in an interview
Green charging solutions provider Servotech Power Systems Ltd on Friday said it has bagged a Rs 111-crore order from Indian Oil Corporation and other original equipment manufacturers (OEMs) for the supply of 1,400 DC fast chargers. The company will manufacture, supply and install 1,400 DC chargers in two variants of 60 kW and 120 kW, the company said in a statement. The DC charger will be installed at Indian Oil petrol pumps and other prioritised locations, it said. The company in February bagged two orders that comprised a contract for 1,500 DC fast EV chargers from Hindustan Petroleum Corporation Ltd (HPCL) and OEMs, and another for 1,800 DC EV chargers from Bharat Petroleum Corporation Ltd (BPCL). With the latest project, the total number of EV charger orders from oil marketing companies and EV charger OEMs stands at 4,700 units, it said. Servotech aims to install all these chargers by the end of FY 2024-25.
Analysts at CLSA believe that HPCL, BPCL and IOC were pricing-in much higher than historical marketing margins, and a notable premium to the global peers