HPCL shares hit fresh 52-week high after strong Q2 show; brokerages revise targets
Published on 30/10/2025 12:54 PM
HPCL Share: Hindustan Petroleum Corporation Limited (HPCL) shares surged 2 per cent on Wednesday, hitting a fresh 52-week high of Rs 477 on the BSE. The stock opened at Rs 478.80 and touched the day’s high at 10:50 AM following a strong set of Q2FY26 results that beat market estimates.
HPCL reported a sharp 731 per cent jump in standalone profit after tax (PAT) for the first half of FY26, coming in at Rs 8,201 crore. The performance was supported by robust refining and marketing operations.
Refining throughput rose 9.7 per cent to 13.23 million metric tonnes (MMT), while marketing sales volume grew 3.5 per cent to 25.11 MMT. The company’s debt-equity ratio improved to 1.07 from 1.38 as of March 31, 2025.
HPCL’s gross refining margin (GRM) stood at US$ 8.80 per barrel during Q2FY26, reflecting healthy operational efficiency.
The company declared an interim dividend of Rs 5 per equity share for FY2025-26. “The Board has declared an Interim Dividend of 50 per cent i.e. Rs 5 per equity share of face value Rs 10 each for the year 2025-2026,” HPCL said in an exchange filing.
The record date for determining eligible shareholders has been fixed as November 6, 2025. The interim dividend will be paid on or before November 27, 2025.
Jefferies maintained an underperform rating on HPCL with a target price of Rs 385, raised from Rs 340 earlier.
Morgan Stanley maintained an overweight stance with a revised target of Rs 533. The brokerage said HPCL’s core PAT of Rs 40 billion was 20 per cent above street expectations, supported by better refining margins and steady marketing performance. Integrated margins came in at US$ 10.1 per barrel, including US$ 1.6 per barrel of LPG loss.
Nomura maintained a buy rating with a target of Rs 510, citing stronger-than-expected refining margins. The brokerage highlighted that Q2FY26 EBITDA of Rs 69 billion was 15 per cent above estimates despite LPG under-recoveries.
Abhay Shukla is a Senior Sub-Editor at Zee Business, where he covers the stock markets, corporate news, personal finance, technology, and auto sectors.
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