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.