Hindustan Petroleum Corporation plunged 5.38% to Rs 168 at 12:09 IST on BSE as crude oil hit a fresh record high above $144 a barrel on Wednesday, 2 July 2008..
The stock today hit a 52-week low of Rs 165.60. The stock hit a high of Rs 176 so far during the day. The stock had a 52-week high of Rs 405.90 on 4 January 2008.
The company has an equity capital of Rs 339.33 crore. Face value per share is Rs 10.
The current price of Rs 168 discounts its Q4 March 2008 annualised EPS of Rs 45.37, by a
PE multiple of 3.70.
The sharp spurt in crude prices will put further pressure on fuel retailers as they continue to sell products below the cost price. Global crude oil prices are up over 40% in this calendar year so far.
As per reports, Hindustan Petroleum Corporation (HPCL) will develop bio-jet from ethanol, bio-diesel and bio-butanol through a collaborative research and development (R&D) project. The company will join hands with Indian Institute of Petroleum, Dehra Dun and the National Chemical Laboratory, Pune for this project, reports added.
HPCL’s net profit fell 30% to Rs 384.51 crore on 44% increase in net sales to Rs 31,470.61 crore in Q4 March 2008 over Q4 March 2007.
HPCL undertakes downstream petroleum activities including development of infrastructure and marketing of LPG and other petroleum products.
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