HPCL, BPCL and IOCL shares hit 52-week highs after crude oil prices slip below $80/barrel

HPCL Share Price: Shares of Hindustan Petroleum (HPCL), Bharat Petroleum (BPCL) and Indian Oil (IOCL) hit their respective 52-week highs on BSE on Tuesday after crude oil prices in international market on Monday.

The stock of HPCL scaled a 52-week high of Rs 341.35 on Tuesday. It was soaring higher by 6.26 per cent, or Rs 20.05, at Rs 340.20 at 12:00 noon on Tuesday.

The stock closed at Rs 320.15 on Friday and opened at Rs 327.30 on Tuesday morning before hitting the 52-week high.

Why Hindustan Petroleum shares are soaring?

The shares of Hindustan Petroleum were trading higher after crude oil prices slipped to below $80 per barrel on Monday. 

However, on Tuesday, Brent crude futures were up 11 cents, or 0.1%, at $80.09 a barrel at 0510 GMT. U.S. West Texas Intermediate (WTI) crude futures were trading 4 cents higher, also 0.1%, at $74.90 a barrel.
 

How shares of BPCL and IOCL are faring

Following in the footsteps of HPCL, shares of the BPCL and IOCL also hit their respective 52-week highs on Tuesday.

While the BPCL stock reached a 52-week high of Rs 425.95 in morning deals, IOCL also reached a 52-week high of Rs 108.59 amid declining crude oil prices.