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HPCL gains after RBI nod for hike in foreign investment limit

HPCL, Financial results

New Delhi: Shares of Hindustan PetroleumBSE 3.81 % (HPCL) rose as much as 3.4 per cent to hit a record high of Rs 1,299.90 in morning trade on Monday after the Reserve Bank of India increased the limit of foreign shareholding in the company to up to 40 per cent from 24 per cent.

The stock was among the top contributors to the Nifty50 index, which was up 0.3 per cent. It was also the top gainer on the S&P BSE Energy index.

At 11:13 am, shares of the company were trading at Rs 1,290 apiece, up 2.62 per cent from its previous close on BSE.


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