Hindustan Petroleum Corporation (HPCL) shares jumped to register a fresh 52-week high on Friday, December 1, continuing to rise for the third trading session in a row. The HPCL stock strengthened by as much as Rs 8.8, or 2.5 per cent, to Rs 356.1, surpassing an earlier peak of Rs 351 scaled last month.  

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The strong upmove in the stock came after news agency Press Trust of India reported that the state-run oil marketing company plans to start operations at its five-million-tonnes-a-year LNG import terminal in Chhara, Gujarat in the next couple of months. 

The company had already received offers from 6-7 parties to hire capacity, and a decision would be taken soon, the report quoted HPCL Director (Marketing) Amit Garg as saying. 

The terminal was mechanically completed in March but its commissioning was delayed as a 40-kilometre pipeline connecting it to an existing network meant for sales to consumers was not yet ready. 
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“We will commission the LNG terminal in the next couple of months,” Garg said. 
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HPCL built the facility, located in Chhara in the Gir-Somnath district of the state, to receive natural gas super-cooled to a liquid state in cryogenic ships.  

HPCL share price: Past performance 

In 2023 so far, HPCL shares have rewarded investors with a return of nearly 50 per cent, sharply outperforming a more than 11 per cent rise in the headline Nifty index.  

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