HPCL and BPCL jump as both are set to announce Q4 results in May 9 board meetings

Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited jumped over four and three per cent, respectively, on BSE on Tuesday (May 7, 2024) as both companies are set to consider results, issue of bonus shares, and dividend on in their board meetings on May 9.

Here's how the stocks of HPCL and BPCL and trading on BSE on Tuesday.

HPCL share price

After closing at Rs 513.65 in the previous session, the stock of HPCL rose by 4.06 per cent to Tuesday's high of Rs 534.50.

The stock was trading lower by 0.28 per cent, or Rs 1.45, at Rs 512.20 at 1:08 pm on Tuesday.

HPCL board meeting

Writing to BSE and NSE on Monday, HPCL said: "We refer to our earlier letter Ref: Co.Secy/VM/107/2024 dated April 24, 2024 intimating holding of Board Meeting for consideration and approval of Audited Financial Results (Standalone & Consolidated) of the Company for the Financial Year ended March 31, 2024 and recommendation of Final Equity Dividend, if any, for the Financial Year 2023-2024.

"We now write to inform that in the aforesaid meeting, the Board will also consider a proposal for recommendation of Bonus Equity Share subject to the approval of Members of the Company including fixation of Record Date for the said Bonus Issue." 

BPCL share price

BPCL, on the other hand, closed at Rs 610.05 on Monday and jumped to Tuesday's high of Rs 628.50, a 3.02 per cent rise.

The stock of the oil and gas marketing company was trading lower by 1.11 per cent, or Rs 6.80, at Rs 603.25 at 1:09 pm on Tuesday.

BPCL board meeting

In a statement on Monday, BPCL said, "This is further to our intimation dated 30th April 2024 regarding the meeting of Board of Directors of Bharat Petroleum Corporation Limited scheduled on Thursday, 9th May 2024 inter-alia, to consider and approve the financial results for the quarter and financial year ended 31st March 2024 and also to consider recommendation of final dividend, if any, for the financial year 2023-24.

"Pursuant to Regulation 29(1) & 29(2) of SEBI (Listing Obligations & Disclosure Requirements), Regulations 2015, it is hereby informed that the Board of Directors of the Company may consider issue of Bonus Shares in the aforesaid Board Meeting."