HPCL shares gain on collaborating with Petromin Express to set up vehicle service centres

Hindustan Petroleum Corporation (HPCL) and Petromin Express India have entered into a partnership to set up around 1,000 vehicle service centres at HPCL retail outlets in India. Petromin Express-HPCL Co-branded outlets will provide a world-class vehicle ownership experience to customers at affordable price points.  

Petromin Corporation – KSA, a mobility solutions leader will work with HPCL to set up around 1,000 co-branded quick service outlets to offer a wide range of solutions under one roof – including HP lube change, light repairs, periodical maintenance, battery, tires, AC and eco car wash services at Retail Outlets of HPCL across India. This partnership aims to address the needs of customers across segments of two, three and four-wheeler vehicles. 

Hindustan Petroleum Corporation operates two major refineries producing a wide variety of petroleum fuels and Specialties. The Company also owns and operates the largest lube refinery in the country producing lube base oils of international standards. The company provides fuelling services to the aviation industry through its business unit, ‘HP Aviation’ also fondly called ‘Hindustan Aviation’. Its network covers all the major airports in India and is continuously expanding 

Hindustan Petroleum Corporation is currently trading at Rs 275.30, up by 1.25 points or 0.46% from its previous closing of Rs 274.05 on the BSE. The scrip opened at Rs 271.10 and touched a high and low of Rs 275.70 and Rs 270.70 respectively. So far 29,975 shares were traded on the counter. 

The BSE group ‘A’ stock of face value of Rs 10 has touched a 52-week high of Rs 279.60 and a 52-week low of Rs 200. Last one week high and low of the scrip stood at Rs 275.80 and Rs 268.80 respectively. The current market cap of the company is Rs 39,059.73 crore. 

The promoters holding in the company stood at 54.90%, while Institutions and Non-Institutions held 35.77% and 9.33% respectively.