Rs 15/Sh Dividend: This Maharatna PSU Stock Up 120% In A Yr; Sharekhan Gives Hold Call, TP Rs 470

Leading large cap public sector undertaking, Hindustan Petroleum Corporation Ltd shares witnessed a surge of 4.5% intraday today till 2:35 pm. The current market price of HPCL shares on NSE is Rs 510.80 apiece. Hindustan Petroleum Corporation shares jumped nearly 22% in the last one month only. Brokerage firm Sharekhan has recommended a hold rating to Hindustan Petroleum Corporation stock with a target price of Rs 470 apiece.

Valuation: According to the analyst, "we maintain our Hold rating with an unchanged PT of Rs. 470 as steep run-up of 78% in its stock price in the last 3 months makes risk-reward unfavourable given historically trend of sharp earnings volatility."

HPCL Dividend: As per the regulatory filing of HPCL dated January 25, 2024, "We wish to inform you that the Board of Directors of the Company at its meeting held on Thursday, January 25, 2024, have declared Interim Dividend of Rs. 15 per Equity Share of face value of Rs.10 each for the Financial Year 2023-2024. The Company has fixed February 7, 2024, as the "Record Date" to determine the eligibility of the shareholders/ beneficial owners to receive the said Interim Dividend."

Hindustan Petroleum Corporation Stock Performance & Return: The 52-week high price of Hindustan Petroleum Corporation shares on NSE is Rs 517.35 per share and the 52-week low price is Rs 211.65 per share, respectively. The company has a market capitalisation of Rs 72,757 crore. Hindustan Petroleum Corporation shares soared 120% in the last one year and are up over 28% year-to-date. In the last 3-years, Hindustan Petroleum Corporation shares zoomed 127%.

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 expanded 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 Sharekhan. 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 making any investment decision.