HPCL rises 8% after Q2 results

New Delhi: Hindustan Petroleum Corporation Limited (HPCL) continued its upward journey and was up 8 per cent in trade on Wednesday on the back of strong results. HPCL was up more than 6 per cent on Tuesday while Indian Oil was up more than 5 per cent. HPCL was up 8.3 per cent at Rs 302 on BSE. BPCL was up more than 3 per cent. Hindustan Petroleum Corporation (HPCL) reported better than expected Q2 results with EBITDA of Rs82.2bn and PAT of Rs51.2bn.Refining margins and gross marketing margins(GMM) came in higher than estimates at $13.3/bbl and Rs5.9/ltr. Going ahead, we build in GRMs of US$6/bbl and GMM of Rs 4.5/ltr for FY25-26E, Prabhudas Lilladher said in a report.