Monday , September 27 2021

HPCL rises on signing pact with CESL to set up EV charging points in metros

Hindustan Petroleum Corporation is currently trading at Rs. 265.15, up by 3.80 points or 1.45% from its previous closing of Rs. 261.35 on the BSE.

The scrip opened at Rs. 261.35 and has touched a high and low of Rs. 265.70 and Rs. 261.35 respectively. So far 41095 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 312.00 on 17-Jun-2021 and a 52 week low of Rs. 163.30 on 15-Oct-2020.

Last one week high and low of the scrip stood at Rs. 278.00 and Rs. 260.55 respectively. The current market cap of the company is Rs. 37556.07 crore.

The promoters holding in the company stood at 54.90%, while Institutions and Non-Institutions held 34.12% and 10.98% respectively.

Hindustan Petroleum Corporation (HPCL) has signed an agreement with Convergence Energy Services (CESL) for setting up charging infrastructure in selected retail outlets at several cities across the country. Spanning 10 years, the agreement entails CESL and HPCL to jointly undertake setting up of EV charging points in Mumbai, Delhi NCR, Bengaluru, Hyderabad, Chennai, Kolkata and Pune.

These charging points will have one or more types of chargers with fast, slow or moderate speed capacity. They will be operated through an app of CESL, which will facilitate better control and monitoring of all charging stations. CESL and HPCL will also identify major highways across India where adequate charging infrastructure can be installed and established.

Hindustan Petroleum Corporation operates two major refineries producing a wide variety of petroleum fuels and Specialties. The Company also owns and operates the largest lube refinery in the country producing lube base oils of international standards.

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