Hindustan Petroleum Corporation Ltd (HPCL), a Maharatna PSU oil and gas company, is recommended to buy on Friday, October 25. The stock price ended higher on Thursday, despite the market trend being volatile. The stock price is closing the gap towards its 52-week high levels. YTD, HPCL has not only given double-digit returns but also rewarded investors with hefty dividends and bonuses.
HPCL Share Price:
The leading OMC ended at Rs 404.65 apiece, up by 1.81% on BSE, with a market cap of Rs 86,102.34 crore. The stock is near its 52-week high of Rs 457.20 apiece, while it is trading higher by 153.5% from its 52-week low of Rs 159.58 apiece.
The stock's price-to-equity ratio is at 9.73x, while the return on equity is at 21.56%.
YTD, the stock has zoomed by 52% on BSE.
HPCL Share Intraday Call:
Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher recommended BUY on HPCL for a target price of Rs 425 apiece. The stop loss for the stock is set at Rs 395. This is the analyst's intraday call for the stock.
However, as per the Trendlyne data, for the 1-year call, the consensus recommendation from 30 analysts for Hindustan Petroleum Corporation Ltd. is HOLD. Of the total, 17 analysts have recommended 'STRONG BUY' or 'BUY'.
The highest target price on HPCL is set by Motilal Oswal at Rs 460 apiece. Also, earlier, SMC Global Securities stated that technically, the stock has been maintaining its bullish move as prices are seen rising in the formation of higher high and higher low patterns. The positive divergences on secondary oscillators along with the rising price suggest a net upswing into the stock. Therefore, one can buy the stock in a range of 430-435 for the upside target of 495-500 levels with SL below 390 levels.
HPCL Corporate Actions:
HPCL has delivered one bonus issue and two dividends in 2024 so far.
Dividends: At the latest, the company rewarded a final dividend of Rs 11 per share for which it turned ex-dividend on August 9. The interim dividend was at Rs 15 per share and its ex-date was on February 7, 2024.
Bonus Issues: The stock has carried a bonus issue in the ratio of 1:2. The record date was on June 21, 2024.
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