HPCL shares rise 3.21 per cent in Tuesday's trading session

HPCL shares rise 3.21 per cent in Tuesday's trading session
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Synopsis

The Relative Strength Index of the stock stood at 50.58 on Tuesday.

Agencies
Mazhar Mohammad of Chartviewindia.in said technical indicators are turning mixed as the weekly MACD chart has generated a 'buy' signal, giving an edge to the bulls.
Shares of Hindustan Petroleum Corporation Ltd. rose 3.21 per cent to Rs 284.95 in Tuesday's trade as of 10:05AM (IST) even as the benchmark Nifty ruled at 17060.15, down 57.45 points.

The scrip had closed at Rs 276.1 in the previous session. The stock quoted a 52-week low of Rs 223.0 and a high of Rs 354.55. The company quoted a market-cap of Rs 40251.31 crore on the BSE.

On BSE, 107,430 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 4.83 times its trailing 12-month EPS of Rs 58.77 per share and 0.89 times its book value. The return on equity (ROE) stood at Rs 28.0.

Key Financials
For the quarter ended 31-Dec-2021, Hindustan Petroleum Corporation Ltd. reported consolidated sales of Rs 97146.5 crore, up 39.64 per cent from the same quarter a year ago. The company reported 43.0 per cent YoY de-growth in net profit at Rs 1352.99 crore for the latest quarter.

Technical indicators
The relative strength index (RSI) of the stock stood at Tuesday. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold when it is below 30.

Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.

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