HPCL Gains After Profit More Than Doubles In Q2; Announces Share Buyback Proposal

Shares of Hindustan Petroleum Corporation (HPCL) rose nearly 10 per cent to hit an intraday high of Rs 204.05 after its net profit more than doubled in September quarter and company announced a share buyback proposal. The state-run oil refiner and retailer after market hours on Wednesday announced that its profit more than doubled to Rs 2,477.45 crore from Rs 1,052.31 crore during the corresponding quarter a year ago.