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Hindustan Petroleum Corporation Limited ( (IN:HINDPETRO) ) has issued an update.
HPCL has clarified to Indian stock exchanges that it has not entered into any negotiations or events related to the procurement of Venezuelan crude oil, contrary to a recent media report claiming the company was seeking such crude to boost heavy oil runs. The company further stated it is unaware of any undisclosed information that could explain recent movements in its share price, emphasized that there are no regulatory or legal proceedings or material impact arising from the news item, and labelled the report as incorrect and out of context, asserting that trading in its shares is driven purely by general market conditions and investor sentiment.
More about Hindustan Petroleum Corporation Limited
Hindustan Petroleum Corporation Limited (HPCL) is a major Indian state-controlled oil and gas company engaged primarily in the refining, processing, and marketing of petroleum products, serving domestic and international markets through its network of refineries and downstream distribution operations.
Average Trading Volume: 169,268
Technical Sentiment Signal: Buy
Current Market Cap: 883.7B INR
See more data about HINDPETRO stock on TipRanks’ Stock Analysis page.