Tuesday, 14 February 2017

HPCL and JSW Steel contribute 48 points to BSE Mid-cap index's fall

The markets are trading flat for the moment. The mid-cap index too is down by 71 points, with HPCL and JSW Steel contributing 48 points to the Mid-cap index's fall.

HPCL has lost 6%, the stock was in news on February 13, as it declared its interim dividend. JSW Steel too has cracked in trade. Earlier this month it posted its highest ever crude steel production.

HPCL in the last one year, has given a return of 136.44%; whereas JSW Steel in the same period has given a return of 81.25%.

Stock view:

Hindustan Petroleum Corporation Ltd is currently trading at Rs 543.45, down by Rs 34.7 or 6% from its previous closing of Rs 578.15 on the BSE.

The scrip opened at Rs 581 and has touched a high and low of Rs 584.45 and Rs 541.25 respectively. So far 5656400(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 58733.2 crore.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 583.1 on 08-Feb-2017 and a 52 week low of Rs 212 on 25-Feb-2016. Last one week high and low of the scrip stood at Rs 583.1 and Rs 549.25 respectively.

The promoters holding in the company stood at 51.11 % while Institutions and Non-Institutions held 27.74 % and 21.15 % respectively.

The stock is currently trading above its 50 DMA.

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