HPCL Share Price today: HPCL Stock Hits ₹425.90, Key Technical Indicators You Need to Know
On September 4, 2024, the share price of Hindustan Petroleum Corporation Limited (HPCL) was reported at ₹425.90. This reflects a slight decrease of 0.46% from the previous trading session. The stock opened at ₹428.85 and reached a high of ₹430.70 during the day. The trading volume was substantial, with over 5.14 million shares exchanged, indicating active investor interest in the stock.
Main Points
- 1 Live Today: Market Performance of HPCL Share Price
- 2 Technical Analysis of HPCL Share Price
- 3 Key Technical Indicators of HPCL Share Price
- 4 Fundamental Analysis of HPCL Share Price
- 5 Quarterly Results Analysis of HPCL Share Price
- 6 Today Target Prediction of HPCL Share Price
- 7 Intraday Trading Levels of HPCL Share Price
- 8 Tomorrow Forecast of HPCL Share Price
- 9 Monthly Important Levels
- 10 Movement Causes
- 11 Compare Peer Stocks
- 12 Keys Factors
- 13 Bearish and Bullish Trends Find Out
- 14 Today Update News
HPCL’s performance in the market has been noteworthy. Over the past month, the stock has appreciated by approximately 17.7%. This upward trend is indicative of strong investor confidence, likely driven by positive market sentiments and favorable quarterly results. In the past year, HPCL’s share price has surged by an impressive 135%, showcasing its resilience and growth potential in the energy sector.
From a technical perspective, HPCL’s stock has shown bullish trends recently. The stock’s 52-week high was recorded at ₹411.80, while the low was ₹159.50. This significant range highlights the volatility and potential for gains in HPCL shares. The current price of ₹425.90 is above the 50-day moving average, suggesting a bullish sentiment among traders.
- Support Level: ₹410.00
- Resistance Level: ₹430.00
- Moving Average (50-day): ₹400.00
These indicators suggest that if the stock can maintain above the ₹410 mark, it may continue its upward trajectory towards ₹430.
Raymond Share Price Surges 8.61%: Is This the Right Time to Invest?
Know before investing in Tata Steel Share: Bullish above ₹ 152, dip below ₹ 142
HPCL’s fundamentals remain strong, with a market capitalization of ₹868,364.36 million. The company’s earnings per share (EPS) is reported at ₹39.41, and it boasts a price-to-earnings (P/E) ratio of 10.35, which is relatively attractive compared to industry peers. The dividend yield stands at 7.72%, making it an appealing option for income-seeking investors.
In the latest quarter ending June 30, 2024, HPCL reported a total income of ₹114,433.54 crore, with a profit of ₹633.94 crore. This performance reflects the company’s ability to navigate market challenges effectively. The dividend declared for the financial year 2024 was ₹31.5 per share, further demonstrating HPCL’s commitment to returning value to its shareholders.
For today, the target price for HPCL is projected to be between ₹430 and ₹435. Traders should watch for any significant market movements that could influence these targets. If the stock breaks above ₹430, it may attract further buying interest.
For intraday traders, the following levels are crucial:
- Buy Level: Above ₹428.00
- Sell Level: Below ₹423.00
Traders should consider these levels to manage their positions effectively.
Looking ahead to tomorrow, market analysts suggest that HPCL may continue to experience volatility. The expected price range is between ₹420 and ₹435. Factors such as global oil prices, domestic demand, and geopolitical developments could significantly impact HPCL’s performance.
Monthly Important Levels
For the month of September, key levels to watch for HPCL are:
- Resistance: ₹440
- Support: ₹400
These levels will be critical in determining the stock’s direction as the month progresses.
Movement Causes
Several factors contribute to the movement of HPCL shares:
- Global Oil Prices: Fluctuations in crude oil prices directly affect HPCL’s profitability.
- Government Policies: Changes in energy policies or subsidies can impact the operations of HPCL.
- Market Sentiment: Investor sentiment, influenced by economic indicators and global events, plays a crucial role in stock price movements.
Compare Peer Stocks
When analyzing HPCL, it’s also useful to compare it with peer companies such as Bharat Petroleum Corporation Limited (BPCL) and Indian Oil Corporation Limited (IOC). Both companies have shown similar growth patterns, but HPCL’s recent performance has outpaced its peers, making it a more attractive investment option.
Keys Factors
Several key factors are influencing HPCL’s stock price:
- Strong Demand for Energy: As the economy recovers, demand for petroleum products is expected to rise.
- Efficient Management: HPCL’s management has been proactive in cost management and operational efficiency.
- Investor Confidence: The substantial increase in share price over the past year reflects growing investor confidence in HPCL’s future prospects.
Bearish and Bullish Trends Find Out
Currently, the trend appears bullish, with HPCL maintaining its position above critical support levels. However, any negative news regarding global oil supply or domestic economic conditions could trigger bearish sentiments.
Today Update News
In recent news, HPCL has announced plans to expand its refining capacity and invest in renewable energy sources. This strategic move is expected to enhance its market position and align with global sustainability trends.
Note: This article is written for educational purposes, Local Haryana does not provide buying and selling of any kind of stock
