Reliance Cap's subsidiary hikes stake in HPCL to 5 pc for Rs 12.8cr

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Reliance Cap's subsidiary hikes stake in HPCL
Reliance Capital Trustee Company has hiked its stake in Hindustan Petroleum Corporation Ltd (HPCL) to 5.02% for more than Rs 12.80 crore by purchasing 3.17 lakh equity shares of the oil firm in an open market transaction.

Reliance Capital Trustee Co has bought these equity shares for several schemes of Reliance Mutual Fund.

Moreover, the total holding of Reliance Capital Trustee Co in HPCL stood increased to 1.70 crore equity shares which in turn represented 5.02% of the total paid up capital of HPCL.

Reliance Capital Trustee Co possessed more than 1.67 crore shares which in turn represented 4.93 per cent of the total paid equity of HPCL before this latest acquisition.

Reliance Capital Trustee Co carried out the transaction on May 6, 2011 through Bric Securities Ltd and SBI Cap Securities Ltd which are the two leading bourses.

Hindustan Petroleum Corporation Limited (HPCL), is an Indian state-owned oil company headquartered at Mumbai, India and is a Fortune 500 company of India listed at number 311.

HPCL operates 2 major refineries producing a wide variety of petroleum fuels & specialties, one in Mumbai (West Coast) of 6.5 Million Metric Tonnes Per Annum (MMTPA) capacity and the other in Vishakapatnam, (East Coast) with a capacity of 8.3 MMTPA

Read more about: hpcl, oil and gas, reliance capital, crude
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