Sensex Opens 400 Points Higher; Oil & Gas And Banking Stocks Lead

It also reported an increase in total income to Rs 857.5 bn for the quarter under review. HPCL's total income was Rs 719.8 bn in March 2020.

The company earned US$ 8.11 on turning every barrel of crude oil into the fuel during the quarter under review. This is compared with a negative gross refining margin (GRM) of US$ 1.23 per barrel.

Inventory gains are booked when crude oil prices rise by the time a company processes oil into fuel. Losses are booked when the reverse happens.

During 2020-21, HPCL refineries at Mumbai and Visakhapatnam achieved a combined refining thruput of 16.4 m tonnes with a capacity utilization of 104%.

The company has also recommended a dividend of Rs 22.75 per equity share of the face value of Rs 10 each for FY21.

HPCL's share price has opened the day up by 7%.

Speaking of HPCL, have a look at the chart below which compares the yearly share price performance of HPCL with IOC and BPCL.

While Rs 100 invested in HPCL 1 year back turned out to be Rs 159, Rs 100 invested in IOC and BPCL would have fetched Rs 149 and Rs 152, respectively.

Note that shares of oil marketing companies (OMCs) have seen an up move in their share prices recently after petrol and diesel prices were hiked.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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