| Hindustan Petroleum Corporation Ltd.(HPCL) Related news |
HPCL assets valued at over 70% of its m-cap
Posted on 9th November 2017 |
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A new report has valued assets of Hindustan Petroleum (HPCL) at Rs 114,000 crore — nearly 70 per cent premium to its current market capitalisation of around Rs 66,000 crore. The higher valuation of HPCL’s assets by JM Financial, if accepted by the government, would mean a higher outgo for ONGC. The JM Financial report has been submitted to the government, which had mandated the Mumbai firm to advise it on the transaction. |
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Hindustan Petroleum to acquire MRPL in share-swap deal
Posted on 31st October 2017 |
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New Delhi: Hindustan Petroleum Corp. Ltd (HPCL) is likely to acquire Mangalore Refinery and Petrochemicals Ltd (MRPL) in a share-swap deal to become India’s second-largest oil refiner. The merger is likely to take place after ONGC, country’s biggest oil and gas explorer, completes acquisition of HPCL in an all-cash deal by December or January, officials in know of the development said. MRPL is a subsidiary of Oil and Natural Gas Corp. Ltd (ONGC). At present, ONGC owns 71.63% stake in MRPL while HPCL has 16.96%. Once ONGC acquires 51.11% stake in HPCL, India’s third-largest refiner, for about Rs35,000 crore, it will have two refinery subsidiaries - HPCL and MRPL. |
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HPCL to acquire MRPL in share-swap deal
Posted on 31st October 2017 |
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Hindustan Petroleum Corp Ltd (HPCL) is likely to acquire Mangalore Refinery and Petrochemicals (MRPL) in a share-swap deal to become India’s second-largest oil refiner. The merger is likely to take place after ONGC, country’s biggest oil and gas explorer, completes acquisition of HPCL in an all-cash deal by December or January, officials in know of the development said. MRPL is a subsidiary of Oil and Natural Gas Corp (ONGC). At present, ONGC owns 71.63 per cent stake in MRPL while HPCL has 16.96 per cent. |
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State-run fuel retailers Indian Oil , HPCL, BPCL expand LPG supply network
Posted on 28th October 2017 |
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New Delhi: Fuel retailers Indian Oil Corp. Ltd., Hindustan Petroleum Corp. Ltd. and Bharat Petroleum Corp. Ltd. are expanding their network of liquified petroleum gas (LPG) dealerships by appointing more than 6000 new distributors, the oil ministry said on Friday. This will mainly be in rural areas and in addition to the locations for which selection has already been made and the process of commissioning distributorship is underway, the ministry said in a statement. |
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HPCL’s capacity expansion takes off
Posted on 23rd October 2017 |
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Prime Minister Narendra Modi laid foundation stone for Hindustan Petroleum Corporation Ltd’s MDPL Capacity Expansion and PVPL Extension Project in Vadodara on Sunday. The total approved project cost is Rs 1,879 crore out of which Rs 1,769 crore will be invested in Gujarat. The project is slated for completion by June 2020. This pipeline project of HPCL will facilitate uninterrupted supply of petroleum products to meet growing market demand for petrol, diesel etc in Gujarat, Eastern Maharashtra and other parts of central India. It will provide safe, environment friendly and cost efficient transportation of petroleum products to these areas. |
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Diesel to be available online? See what Indian Oil, HPCL, BPCL are planning
Posted on 18th October 2017 |
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Arun Kumar Singh, executive director, retail, BPCL, told FE, that they expect the safety clearance to come in next one month and the online retailing to start by December-end. Inspired by the online and e-commerce boom in the country, oil marketing companies — Indian Oil, HPCL and BPCL — are planning to start online retailing of diesel to cater to the rural customers and commercial establishments helping them save time and improve their productivity. |
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HPCL is top IIFL pick even as it maintains Buy rating on all 3 OMCs
Posted on 13th October 2017 |
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We upgrade FY18-19ii EPS for OMCs by 10-25% on the back of: 1) firm GRMs; 2) sustained product sales; and 3) strong outlook for marketing margins. OMCs trade inexpensively, offering earnings yield of 10-11% and dividend yield of 3.5-5% on FY18ii, assuming 40% payout (>45% in FY17). We maintain ‘buy’ on all the three OMCs. HPCL is our top pick, given its net long marketing portfolio and lowest embedded value in SoTP. |
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HPCL, BPCL, IOCL trade firm after government cuts excise duty on fuels
Posted on 4th October 2017 |
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Shares of all three state-owned oil marketing companies (OMCs) were trading higher by up to 4% on BSE in early morning trade after the government cut the excise duty on both branded and unbranded petrol and diesel by Rs 2 a litre from Wednesday. Hindustan Petroleum Corporation Limited (HPCL), Bharat Petroleum Corporation Limited (BPCL) and Indian Oil Corporation (IOCL) have gained between 3% and 4%, extending their gains for the past 2 days on the BSE. |
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Indian Oil, HPCL, BPCL eyeing electric vehicles, renewables business
Posted on 25th September 2017 |
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Mumbai: Wary of being left behind in the race for renewables and electric vehicles, oil marketing companies are quietly drawing up plans to expand their modest presence in renewable energy space. Indian Oil Corp. Ltd, the largest of the three big oil marketers, is exploring opportunities for setting up battery charging stations and battery replacement facilities for electric vehicles in its petrol pumps. “We are also looking at opportunities for manufacturing and retailing lithium-ion batteries,” the company said in its annual report for 2016-17. |
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How will daily pricing of petrol, diesel impact oil marketing companies? From IOCL to HPCL, here is what is in store
Posted on 23rd September 2017 |
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The refining glut is expected to worsen in the longer term, led by capacity expansion, rising distillate yields, increasing mileage per gallon, and growing use of greener fuels. However, refining margins have been strong at $8.3/bbl since July 2017 due to high unplanned shutdown, globally; we expect this to continue for a while. After a bit of a slowdown in FY17, consumption of both petrol and diesel has grown strongly at 8.3% and 4.5%, respectively in FY18YTD. |
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