1:2 Bonus Issue: Oil PSU To Go Ex-Bonus In 3-Days, Rs 16.50 Dividend Soon; Buy?

Maharatna public sector undertaking Hindustan Petroleum Corporation Limited (HPCL) shares are all set to go ex-bonus in the ratio of 1:2 implying shareholders will be eligible to receive 1 bonus share for every 2 shares held as on the record date i.e. Jun 21, 2024. Last trading price of Hindustan Petroleum Corporation Limited share on BSE is Rs 536.25 per share with intraday gain of 1.50% as on June 14, 2024.

Hindustan Petroleum Corporation Limited shares offered attractive returns of 95% in last 1-year and multibagger returns of 151% in last 2-years. The company also recommended Rs 16.50/share dividend has been fixed as August 9, 2024. Earlier this year on May 28, HPCL inked an MoU with Oil India to collaborate on Conventional & Alternative Energy portfolio. Check more details below:

Should You Buy HPCL Shares Before Shares Trade Ex-Bonus? 4 leading analysts are bullish on HPCL shares and recommended buy call with highest target price set as Rs 700. HSBC has suggested buy call to HPCL shares with a target of Rs 640. Motilal Oswal has also assigned buy call to HPCL share with target price of Rs 600 per share. Yes Securities too gave buy rating to Hindustan Petroleum Corporation Limited with target price of Rs 700. Meanwhile, ICICI Securities too recommended buy call with target price of Rs 625 per share.

HPCL Dividend: The BSE filing stated, "It is further informed that the aforesaid Final Equity Dividend of Rs.16.50 per equity share having face value of Rs. 10/- each (pre-bonus), which translates into final dividend of Rs. 11 per equity share having face value of Rs. 10/- each (post-bonus) for the Financial Year 2023-24, subject to the approval of the shareholders of the Company."

HPCL Declared Bonus Share: HPCL declared bonus share in the proportion of 1:2 and set June 21, 2024 as the record date.

HPCL Share Performance: The 52-week high price of HPCL share on BSE is Rs 594.70 per share (as on 03/06/2024) and 52-week low price is Rs 239.25 per share (as on 26/10/2023). HPCL has a market capitalisation of Rs 76,069.66 crore. Hindustan Petroleum Corporation Ltd share delivered returns of 34% year-to-date, gave return of 42% in last 6-months, zoomed 80% in last 3-years, and surged 76% in last 5-years. In last 10-years, HPCL stock surged 515%.

HPCL Dividend History: HPCL declared 34 dividends since July 27, 2000. In last 1-year, the oil PSU declared an equity dividend amounting to Rs 15.00 per share. At the current share price of Rs 536.25, HPCL shares offer dividend yield of 2.80%.

HPCL Bonus Share History: It announced 2 bonus shares since September 14, 2016. The last bonus issue that HPCL declared was in the ratio 1:2 with ex-bonus date fixed as July 11, 2017.

About: HPCL is one of the largest integrated Public Sector Undertaking, engaged in the business of refining Crude Oil and marketing of various petroleum products like Asphalt, Diesel, Kerosene, LPG, Lube Oils, Petrol, branded products like ATF (Aviation Turbine Fuel), Power, Turbojet, Naphtha, throughout India and at select foreign countries. Some of these products are exported to other countries. Hindustan Petroleum Corporation Limited is a Maharatna CPSU and (HPCL) is a Government Company within the meaning of Section 617 of the Companies Act 1956.

Disclaimer: The stock has been picked from the brokerage report of ICICI Securities, HSBC, Motilal Oswal, and Yes Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.