Introduction:
Major refinery has approved the “Lube Modernization and Bottoms Upgradation Project” to enhance production capacity. The project aims to increase Lube Oil Base Stocks (LOBS) and Bitumen production, with an estimated cost of Rs. 4,679 Crore.
Share price movement of HPCL:
On December 17, 2024, Hindustan Petroleum Corporation Ltd. opened at ₹408.00, up 0.25% from its previous close of ₹407.00. The stock reached a high of ₹409.90 (0.73%) and a low of ₹404.70. By 11:04 AM, it traded at ₹407.00, with a market cap of ₹86,602.38 crore.
HPCL approves Rs. 4,679 Crore project:
Hindustan Petroleum Corporation Ltd (HPCL) has announced approval for the “Lube Modernization and Bottoms Upgradation Project” at its Mumbai Refinery. This project aims to increase Lube Oil Base Stocks (LOBS) production from 475 KTPA to 764 KTPA.
The project will also enhance Bitumen production by approximately 487 KTPA and upgrade Fuel Oil to Bitumen. The upgraded LOBS production will include superior-grade Group 11+ and Group III oils, catering to growing market demand for high-quality products.
The Lube Modernization and Bottoms Upgradation Project is set to boost HPCL’s production capacity significantly. With an estimated cost of Rs. 4,679 Crore, the project is expected to be completed within 36 months, with an additional 3 months for commissioning.
Recent news on HPCL:
As of November 27, 2024, Hindustan Petroleum Corporation Limited (HPCL) given an order worth Rs 106.01 crore to Surya Roshni Ltd for the supply of 3LPE Coated Line Pipes for Rajasthan and Jharkhand, to be executed in 40 weeks.
Stock performance of HPCL for Period of 1 week, 6 months and 1 year:
Hindustan Petroleum Corporation Ltd. has shown a steady performance, with a 0.54% return over the past week, 16.6% over the last six months, and a significant 61.0% return over the past year, reflecting strong growth in its operations.
Shareholding pattern of HPCL:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 54.90% | 54.90% | 54.90% |
| FII | 14.10% | 13.20% | 13.80% |
| DII | 21.70% | 21.50% | 22.20% |
| Public | 9.30% | 10.40% | 9.10% |
About HPCL:
Hindustan Petroleum Corporation Ltd (NSE: HINDPETRO) is a Navratna public sector enterprise in India, engaged in refining crude oil and marketing petroleum products. It operates refineries at Mumbai, Vishakhapatnam, and Bathinda, with a stake in Mangalore Refinery.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
