HPCL Q3 profit rises 23% to Rs 19 billion; Stocks lower

Indian state-owned oil and natural gas Company, Hindustan Petroleum Corporation Limited’s (HPCL) profit rose 22.6% per cent in the Q-3, beating estimates.

Profit rose to Rs 19.50 billion, compared with Rs 15.90 billion a year earlier. Operational income rose over 13% to Rs 628.32 billion.

The country's largest oil explorer, Oil and Natural Gas Corp (ONGC), last month agreed to buy the govt’s majority stake in HPCL for Rs 369 billion.

Shares of HPCL traded 1.45% lower to Rs 394 on NSE, meantime BSE Sensex closed lower by 407.40 points, or 1.18%, to 34,005.26, while the Nifty 50 fell 121.90 points, or 1.15%, to 10,454.95, on closing hours, Friday.

BBTC Share Technical Trading Ideas for Tomorrow from Market Expert ( 4 oct 2017)

Research Head (MONEY MAKER RESEARCH & INVESTMENT ADVISOR PVT LTD) is having a view that one can go long in ADANI TRANS & BBTC.

“BBTC is the stock which I would suggest to buy above 1405; this can see upside to levels closer to Rs 1460 - 1470 zones, keep stop loss below Rs 1320”.

Stock has been gaining for the last 3 days and has risen 17.89% in the period & Outperformed Sector by 1.41%.

BBTC was closed 2.47 percent up today at Rs 1391.90 at NSE.