HPCL share price jumps 24% in nine days; check out key reasons behind the rally
HPCL shares rise for ninth straight day, up 24% as OMC companies benefit from decline in crude oil prices. HPCL reports Q2 net profit of ₹5,826.96 crore due to low crude prices and higher gross refining margin.
Hindustan Petroleum share price surged 7.7% on Wednesday's session in response to positive Q2 results from the oil marketing company (OMC) and after several domestic brokerages maintained or raised their target prices for the stock and sees potential upside. Now, for the ninth straight day, the HPCL shares has surged, rising by 24%. Hindustan Petroleum Corporation Limited share price opened at intraday low of ₹281.50 apiece on BSE today.
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