Dividend On May 9, Bonus Share Too: Refineries PSU Jumps 96% In 6-Months, PE 4.83; ROE 38.41

Large cap refineries public sector undertaking Hindustan Petroleum Corporation Ltd informed today about its decision to consider bonus share on May 9, 2024 and fix record date too on the same day. Current market price of Hindustan Petroleum Corporation Ltd share on BSE is Rs 513.65 per share with intraday fall of 3.86%. HPCL shares zoomed 102% in last 1-year span and 96% in last 6-months only. HPCL will also consider financial results and dividend too on May 9 as per its previous exchange filing dated April 24, 2024.

Life Insurance Corporation Of India (LIC) has 4.13% stake with 58,629,348 shares and Sbi Life Insurance Co. Ltd has 1.04% stake with 14,699,977 shares of the company. It is worth noting that HPCL is offering bonus share to its shareholders after a span of 6-years as it offered its last bonus in 2017. More details below:

Hindustan Petroleum Corporation To Consider Bonus Share Too: According to the BSE filing of the company dated May 6, 2024, "We refer to our earlier letter Ref: Co.Secy/VM/107/2024 dated April 24, 2024 intimating holding of Board Meeting for consideration and approval of Audited Financial Results (Standalone & Consolidated) of the Company for the Financial Year ended March 31, 2024 and recommendation of Final Equity Dividend, if any, for the Financial Year 2023-2024. We now write to inform that in the aforesaid meeting, the Board will also consider a proposal for recommendation of Bonus Equity Share subject to the approval of Members of the Company including fixation of Record Date for the said Bonus Issue."

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 to be held on 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.

Hindustan Petroleum Corporation Share Performance: 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 72,863.74 crore. HPCL shares fell 4% in last 3-months, offered return of 96% in last 6-months only, jumped 102% in last 1-years, rose 109% in last 3-years, and surged 577% in last 10-years. HPCL has a PE of 4.62 and EPS (TTM) of 3.73. ROE is 38.41.

Motilal Oswal Recommends Buy: Motilal Oswal remains bullish on the technically strong stock and recommended buy call with target price of Rs 590 per share.
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 74.5 indicating the stock is technically strong. Stocks with score above 70 are considered as technically strong. The RSI is 57.7, RSI below 30 is considered oversold and above 70 overbought. MFI is 65.3, MFI below 30 is considered oversold and above 70 overbought. At 9.6, 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 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.

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