Maharatna Co Bags Contract from OPaL To Supply Natural Gas, Shares Jump 15% YTD

Large cap company operating in Gas & Petroleum sector, Hindustan Petroleum Corporation Ltd on June 19 informed BSE that it bagged major long-term contract from opal for supply of natural gas. HPCL shares gave return of 15% YTD and 30% in last 1-year. Check details below:

HPCL bags long term contact from OPaL: As per the BSE filing of HPCL, "Hindustan Petroleum Corporation Ltd (HPCL) is enhancing its footprints in the Natural Gas market and has secured a major long term contract from ONGC Petro additions Ltd (OPaL) for supply of Natural Gas to their Mega Petrochemical Complex at Dahej. OPaL, a joint venture of ONGC, GAIL and GSPC, requires Natural Gas for operating its own Captive Power Plant (CPP) for supporting its power and steam requirements. HPCL has won the contract through competitive bidding against a tender floated by OPaL. HPCL will be supplying 13.53 Trillion Btu of Natural Gas to OPaL during the period October 23 to May 26 under this contract."

Hindustan Petroleum Corporation Inks Pact With Petromin Corporation: HPCL has entered into an agreement with Automin Car Services Pvt Ltd., a subsidiary of Petromin Corporation, Kingdom of Saudi Arabia (KSA) to establish co-branded HP-Petromin Express vehicle service centres across India. Petromin is a leading mobility solutions player in automotive technology with more than 700 multi-brand quick-service outlets across GCC. This strategic partnership aims to provide world-class customer experiences at affordable prices and offer a comprehensive range of solutions under one roof, including lube change, light repairs, periodic maintenance, battery replacements, tire services, air conditioning repairs and eco carwash facilities. The co-branded HP-Petromin Express vehicle service centres will be located in HPCL's select retail outlets in metros and other major cities across India."

HPCL Stock Performance & Return: Last trading price of HPCL share is Rs 272.85 per share with intraday fall of 0.18%. Its 52-week high price is Rs 279.60 per share and 52-week low price is Rs 200.00 per share, respectively. The large cap company has a market capitalisation of Rs 38,705.09 crore. HPCL shares declined 7% in last 2-years, gave return of 22% in last 3-years, and declined 12% in last 5-years. In last 3-months, HPCL shares jumped 12%.

HPCL About: HPCL is one of the largest integrated Public Sector Undertaking, engaged in the business of refining Crude Oil and marketing of various petroleum products like Asphalt, Diesel, Kerosene, LPG, Lube Oils, Petrol, branded products like ATF (Aviation Turbine Fuel), Power, Turbojet, Naphtha, throughout India and at select foreign countries, as per its official website.