RS 15 Dividend, PE 4.62, Dividend Meet On May 9: Buy Refineries PSU, TP Rs 590: Motilal Oswal

Leading refineries public sector undertaking Hindustan Petroleum Corporation Ltd shares have been on a gaining spree offering attractive 102% return in last 6-months. The PSU offered an attractive dividend of Rs 15/share in the last 12 months with ex-dividend date fixed as February 7, 2024. Last trading price of Hindustan Petroleum Corporation share on BSE is Rs 491.15 per share.

Motilal Oswal remains bullish on the technically strong stock and recommended buy call with target price of Rs 590 per share. The company will also consider results and recommend dividend on May 9, 2024. More details below:

HPCL To Consider Results, Dividend On May 9, 2024: Hindustan Petroleum Corporation Ltd informed BSE about the meeting of the Board of Directors of the Company scheduled May 9, 2024 to consider and approve Audited Financial Results (Standalone and Consolidated) for the Financial Year ended March 31, 2024 & recommend final equity dividend for the financial year 2023-24.

HPCL Dividend History: Hindustan Petroleum Corporation Ltd announced 34 dividends since July 27, 2000. In last 12 months, Hindustan Petroleum Corporation announced an equity dividend amounting to Rs 15.00 per share. At the current share price of Rs 491.15, Hindustan Petroleum Corporation Ltd offers dividend yield of 3.05%.

HPCL Bonus Share History: Hindustan Petroleum Corporation offered 2 bonus issues since September 14, 2016. The last bonus issue that HPCL declared was in the ratio 1:2 with ex-bonus date fixed as July 11, 2017.

HPCL Technical: Score is 72.93 indicating the stock is technically strong. Stocks with score above 70 are considered as technically strong. The RSI is 54.6, RSI below 30 is considered oversold and above 70 overbought. MFI is 61.9, MFI below 30 is considered oversold and above 70 overbought. At 0.7, MACD is above its center and signal Line, this is a bullish indicator. Number of FII/FPI investors increased from 589 to 618 in March 2024 quarter. Mutual Funds have increased holdings from 14.10% to 14.99% in Mar 2024 quarter.

Hindustan Petroleum Corporation Stock Performance & Return: The 52-week high price of Hindustan Petroleum Corporation shares on BSE is Rs 594.45 per share (as on 16/02/2024) and 52-week low price is Rs 239.25 per share (as on 26/10/2023), respectively. Its market capitalisation is Rs 69,672.00 crore. Hindustan Petroleum Corporation shares gave return of 102% in last 6-months only, soared 99% in last 1-years, jumped 111% in last 3-years, and gained 601% in last 10-years. HPCL has a PE of 4.62 and EPS (TTM) of 3.73.

Hindustan Petroleum Corporation Financials In Q3: The state-run firm declared a surge of 207% in its profit (standalone) to Rs 529 crore for the December FY 2023-24 quarter as compared to Rs 172 crore in the corresponding quarter of last year.

Meanwhile, its standalone total income surged 2% on-year to Rs 1.18 lakh crore for Q3 of FY24 as against Rs 1.16 lakh crore reported last year. Its operating margin expand by 22 basis points or bps on-year to 0.7% in Q3 FY24 as compared to 0.4% in the year ago period. The company's domestic sales surged by nearly 3% year-on-year to 11.3 mn metric tone (MT) for the quarter under consideration.

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. Some of these products are exported to other countries. Hindustan Petroleum Corporation Limited is a Maharatna CPSU and (HPCL) is a Government Company within the meaning of Section 617 of the Companies Act 1956.

Disclaimer: The stock has been picked from the brokerage report of Motilal Oswal. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.