HPCL rises on plan to acquire 11-15% stake in Petronet's east coast terminal

Hindustan Petroleum Corporation is currently trading at Rs 428.70, up by 4.05 points or 0.95% from its previous closing of Rs. 424.65 on the BSE. The scrip opened at Rs 428.00 and has touched a high and low of Rs 430.80 and Rs. 426.65 respectively. So far 5522 shares were traded on the counter. The BSE group 'A ' stock of face value Rs 10 has touched a 52 week high of Rs 447.85 on 20-May-2014 and a 52 week low of Rs. 158.45 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs 447.85 and Rs 370.60 respectively. The current market cap of the company is Rs 14379.81 crore. The promoters holding in the company stood at 51.11% while Institutions and Non-Institutions held 32.76% and 16.13% respectively. Hindustan Petroleum Corp (HPCL) is planning to acquire 11-15% stake in Petronet LNG's Rs 5,000 crore LNG import terminal on the east coast. HPCL's Vizag refinery in Andhra Pradesh is being expanded to 15 million tonnes per annum (MTPA) from current 8.33 MT and the expanded unit will have a gas requirement of close to 3 MT. HPCL operates two major refineries producing a wide variety of petroleum fuels and specialties, one in Mumbai (west coast) of 6.5 million metric tonnes per annum (MMTPA) capacity and the other in Vishakapatnam, (east coast) with a capacity of 7.5 MMTPA.