HDFC sells shares in Hindustan Oil Exploration Company Ltd

Out of 1,15,72,786 equity shares of Rs. 10 each held by Housing Development Finance Corporation Ltd in Hindustan Oil Exploration Company Limited (HOEC), the Corporation has sold 28,89,638 shares representing 2.19% of the paid-up share capital of HOEC.

The shares have been sold between July 9, 2021 and March 24, 2022 (including these dates). The sale crossed the 2% threshold on a cumulative basis, on March 24, 2022.

The sale transactions were carried out through stock exchanges at the prevailing market price. The total consideration for the sale of28,89,638 equity shares is Rs. 61.04 crore.

HOEC is engaged in the exploration, development and production of crude oil and natural gas in India, both onshore and offshore.

The Company is a participant in various oil and gas blocks / fields which are in the nature of joint operation through Production Sharing Contracts ('PSC') entered by the Company with Government of India along with other entities.

For the financial year ended on March 31, 2021, the standalone total income of HOEC aggregated to Rs. 111.26 crore and the balance sheet size was Rs. 1,035.27 crore.

Shares of Hindustan Oil Exploration Company Limited was last trading in BSE at Rs. 219.95 as compared to the previous close of Rs. 225.15. The total number of shares traded during the day was 265067 in over 4665 trades.

The stock hit an intraday high of Rs. 236.75 and intraday low of 217.35. The net turnover during the day was Rs. 60488034.00.

Shares of Housing Development Finance Corporation Limited was last trading in BSE at Rs. 2310.90 as compared to the previous close of Rs. 2346.20. The total number of shares traded during the day was 61000 in over 6727 trades.

The stock hit an intraday high of Rs. 2356.30 and intraday low of 2304.95. The net turnover during the day was Rs. 141940415.00.

Source : Equity Bulls

Keywords

HindustanOilExplorationCompany INE345A01011 HOEC HousingDevelopmentFinanceCorporation INE001A01036 HDFC StakeSale