Hindustan Oil Exploration Company's arm acquires balance 50% stake in Geoenpro Petroleum Ltd

Hindustan Oil Exploration Company Limited's (HOEC) subsidiary has acquired the balance 50% shares of Geoenpro Petroleum Limited (Geoenpro). Consequent to the acquisition, Geoenpro, hitherto before an associate company has now become the subsidiary to HOEC. This in effect, increases the Participating Interest in Kharsang Oilfield to 35%, both directly and indirectly, with right as operator to the Block.

Shares of Hindustan Oil Exploration Company Limited was last trading in BSE at Rs. 212.05 as compared to the previous close of Rs. 211.50. The total number of shares traded during the day was 58593 in over 1476 trades.

The stock hit an intraday high of Rs. 216.65 and intraday low of 209.10. The net turnover during the day was Rs. 12502232.00.

Source : Equity Bulls

Keywords

HindustanOilExplorationCompany INE345A01011 HOEC StakeAcquisition GeoenproPetroleum