HPCL shares jump 5%; BSE seeks clarification on 'global oil trading desk' report

HPCL share price: The stock surged 4.70 per cent in Monday's trade to hit a high of Rs 500.95. The multibagger oil PSU has gained more than 100 per cent in the past one year.

Updated Apr 22, 2024 12:59 PM IST

HPCL shares jump 5%; BSE seeks clarification on 'global oil trading desk' report

HPCL share price: The counter saw a decent uptick today after it was reported that "Hindustan Petroleum (plans) to set up a global oil trading desk."

Shares of Hindustan Petroleum Corporation Ltd (HPCL) surged 4.70 per cent in Monday's trade to hit a high of Rs 500.95. The multibagger oil PSU has gained more than 100 per cent in the past one year.

The counter saw a decent uptick today after it was reported that "Hindustan Petroleum (plans) to set up a global oil trading desk."

Stock exchange BSE has sought clarification from the company over the same. The reply is awaited, BSE added.

On technical setup, support on the counter will be at the Rs 445-450 zone. "If HPCL closes above Rs 495, it can move higher towards Rs 550-570 levels," CA Rudra Murthy BV, MD at Vachana Investments told Business Today TV.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

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Prashun Talukdar

With a long experience in the digital space, Prashun has seen it all (mostly at least). From dot-com bubbles to crypto crazes. When it comes to covering the stock markets, he is constantly on the trail to look out for the next big trend. But don't let the seriousness of the stock market fool you. Outside of work, you can often find him strolling Insta, scrolling through memes or binge-watching cartoons.

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Published on: Apr 22, 2024 12:57 PM IST

HPCL shares jump 5%; BSE seeks clarification on 'global oil trading desk' report

HPCL share price: The stock surged 4.70 per cent in Monday's trade to hit a high of Rs 500.95. The multibagger oil PSU has gained more than 100 per cent in the past one year.

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