HPCL, BPCL and IOCL shares hit 52-week highs after crude oil prices slip below $80/barrel
Shares of Bharat Petroleum and Indian Oil Corporation Limited also scaled their respective 52-week highs on Tuesday after the prices of crude oil slipped below $80 a barrel on Monday.
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.
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