HPCL Q3FY08 Results

Hindustan Petroleum Corporation Ltd (HPCL) has announced the following Un-Audited results for the quarter ended December 31, 2007:

The Company has posted a net loss of Rs 157.30 million for the quarter ended December 31, 2007 as compared to net profit Rs 4073.10 million for the quarter ended December 31, 2006. Total Income has increased from Rs 223968.80 million for the quarter ended December 31, 2006 to Rs 273814.70 million for the quarter ended December 31, 2007.

HPCL Q2FY07 Results

Hindustan Petroleum Corporation Ltd (HPCL) has announced the following Unaudited results for the quarter ended September 30, 2007:

The Company has posted a net profit of Rs 8530.30 million for the quarter ended September 30, 2007 as compared to Rs 12219.80 million for the quarter ended September 30, 2006. Total Income has increased from Rs 245060.00 million for the quarter ended September 30, 2006 to Rs 245152.00 million for the quarter ended September 30, 2007.

HPCL, GAIL, Mittal Energy, TOTAL tie up

Hindustan Petroleum Corporation Ltd (HPCL) has informed that the Corporation alongwith M/s. Gas Authority of India Ltd (GAIL), Oil India Ltd (OIL), M/s. TOTAL and M/s. Mittal Energy has signed a Joint Memorandum of Understanding (MOU) to study the feasibility of setting up of an Integrated Refinery-cum-Petrochemicals Complex at Visakhapatnam.

Kotak Institutional - HPCL, BPCL

Kotak Institutional has a OUTPERFORMER rating on HPCL and BPCL with 12-month target price of Rs400 (Rs450 previously) and Rs325 (Rs330)

Government of India might provide adequate package which might prop up earnings