HPCL Stock Price Drops -3.25% Amidst Underperformance in Oil Sector
On August 13, 2024, Hindustan Petroleum Corporation Ltd. (HPCL) saw a -3.25% decline in its stock price, attributed to the underperformance of the oil exploration/refineries sector. Despite this, HPCL's moving averages remain strong and it offers a high dividend yield of 4.35%. It has underperformed the Sensex in the past day but has shown strong performance in the longer term.
Hindustan Petroleum Corporation Ltd. (HPCL) has seen a decline in its stock price by -3.25% on August 13, 2024. This drop in stock price has been attributed to the underperformance of the oil exploration/refineries sector, with HPCL falling short by -2.82%. The stock touched an intraday low of Rs 367.75, a decrease of -3.12% from the previous day's closing price.
Despite this recent dip in stock price, HPCL's moving averages remain strong, with the stock trading higher than its 50-day, 100-day, and 200-day moving averages. However, it is currently trading lower than its 5-day and 20-day moving averages.
Investors looking for a stable dividend yield may find HPCL appealing, as it currently offers a high dividend yield of 4.35% at the current price. However, it is important to note that this is not a recommendation and investors should conduct their own research before making any investment decisions.
In comparison to the overall market performance, HPCL has underperformed the Sensex by -3.03% in the past day and has outperformed by 7.55% in the past month. This shows that while the stock may have experienced a recent decline, it has still shown strong performance in the longer term.
Overall, Hindustan Petroleum Corporation Ltd. remains a largecap company in the oil exploration/refineries industry. While its recent stock performance may have been affected by market conditions, its strong moving averages and high dividend yield make it a stock worth considering for investors.
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