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HPCL stock gains over 5% as board to consider buy back of shares

Shares of HPCL rose up to 5.51% to Rs 189.55, a gain of 5.51% intra day on BSE. The stock has gained 9.25% in the last 2 days

twitter-logoBusinessToday.In | October 30, 2020 | Updated 17:43 IST
HPCL share price gains over 5% as board to consider share buyback
HPCL share trades higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages

Hindustan Petroleum Corporation (HPCL) shares rose over 5% today after oil marketing company said its board would consider a proposal to buy back shares at its next meeting on November 4, 2020. Shares of HPCL rose up to 5.51% to Rs 189.55, a gain of 5.51% intra day on BSE. The stock has gained 9.25% in the last 2 days.

The stock opened with a gain of 2.73% today.

It trades higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.

It has lost 41% in one year and fallen 29% since the beginning of this year.

Total 11.61 lakh shares of the firm changed hands amounting to turnover of Rs 21.69 crore. Market cap of the firm rose to Rs 28,602 crore.

Later, HPCL stock closed 4.51% to Rs 187.70 on BSE.

"A meeting of the company is scheduled to be held on November 04, 2020 for consideration and approval of financial results for the second quarter & half year ended September 30, 2020."

In the said meeting, the board will also consider a proposal to buyback the fully Paid equity shares of face value of Rs 10 each of the company.

The share touched its 52-week high Rs 327.80 and 52-week low Rs 155.00 on 31 October, 2019 and 13 March, 2020, respectively.

Currently, it trades 43.73 percent below its 52-week high and 19 percent above its 52-week low.

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