Shares of HPCL rise as Nifty gains

Shares of HPCL rise as Nifty gains
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Synopsis

On the technical charts, the 200-day moving average of the stock stood at Rs 293.92.

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Agarwal said the global economy is showing clear signs of recovery. The second wave of Covid-19 is ebbing in India with total active cases at less than 20 per cent of May highs.
Shares of Hindustan Petroleum Corporation Ltd. gained 1.34 per cent to Rs 283.7 in Friday's trade as of 10:35AM (IST). It hit a high of Rs 284.9 and low of Rs 277.3 during the session.

The stock quoted a 52-week high price of Rs 354.55 and a low of Rs 223.0. The return on equity for the stock stood at 28.0 per cent. About 81,054 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 1.6.

The scrip has been an outperformer, up 17.69 per cent in the past one year in comparison with a 12.96 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 223.0 on March 11, while the 50-DMA was at Rs 297.99. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 54.9 per cent stake in Hindustan Petroleum Corporation Ltd. as of 31-Dec-2021. Mutual funds and foreign institutional investors held 10.75 per cent and 20.19 per cent stake.

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