New Delhi, Feb 22 : Rajasthan Chief Minister Ashok Gehlot has given in principle approval for the annual financial incentive package of Rs. 3376 crores to HPCL as desired by the petroleum company for setting up refinery in his state.

This package will be for 15 years after the start of commercial production by HPCL.

Petrol, diesel and domestic cooking gas LPG is likely to become costlier soon after the monsoon session of Parliament concludes, a senior official from the Petroleum Ministry revealed.

Speaking on the condition of anonymity, the official said that the oil marketing companies are losing huge amounts on subsidised sales of their products, and that the government is waiting for Parliament to adjourn to give the companies green signal to increase the prices of their products.

The oil marketing companies in the country might reduce the retail price of petrol by about Rs. 4 form July 1 mainly due to the sharp fall in the global crude oil prices and that of petrol.

Technical analyst Shardul Kulkarni of Angel Broking has maintained 'buy' rating on Hindustan Petroleum Corporation Ltd. Limited stock to attain a short term target of Rs 420.

According to analyst, the stock has resistance of Rs 385-390.

The stock of the company, May 03, closed at Rs 381.55 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 555.45 and a low of Rs 311.55 on BSE.

Current EPS & P/E ratio stood at 34.60 and 11.28 respectively.

Technical analyst Husseini Wadharia of Techno Shares is bullish on Hindustan Petroleum Corporation Limited (HPCL) and has maintained 'buy' rating on the stock with a target of Rs 347.

According to Wadharia, the stock can be purchased with a stop loss of Rs 330.

Today, the stock of the company opened at Rs 330 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 55.45 and a low of Rs 298 on BSE.

Current EPS & P/E ratio stood at 34.60 and 9.68 respectively.

Technical analyst Anil Singhvi has maintained 'buy' rating on Hindustan Petroleum Corporation Limited (HPCL) stock with an intra-day target of Rs 435.

The analyst said that the stock can be purchased with a stop loss of Rs 410.

The stock of the company, on December 22, closed at Rs 417.15 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 555.45 and a low of Rs 298 on BSE.

Current EPS & P/E ratio stood at 29.30 and 14.10 respectively.

Stock market analyst Salil Sharma has maintained 'buy' rating on Hindustan Petroleum Corporation Limited (HPCL) stock with a target of Rs 552.

The strict stop loss for the stock is Rs 539.

The stock of the company, on September 21, closed at Rs 539.70 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 555.45 and a low of Rs 298 on BSE.

Current EPS is -36.46.

Stock market analyst Salil Sharma has maintained 'buy' rating on Hindustan Petroleum Corporation Limited (HPCL) stock with a short term target of Rs 562.

According to analyst, the interested investors can buy the stock with a strict stop loss of Rs 539.

The analyst added that the medium term target for the stock will be Rs 140.5.

The stock of the company, on Sep 14, closed at Rs 546.15 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 552.90 and a low of Rs 298 on BSE.

Current EPS is -36.46.

Stock market analyst Salil Sharma is of the view that investors can buy Hindustan Petroleum Corp Ltd (HPCL) stock with stop loss of Rs 460.

According to analyst, the traders can buy the stock on dips with target of Rs 490.

The shares of the company, on July 01, closed at Rs 470.20 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 484 and a low of Rs 298 on BSE.

Current EPS & P/E ratio stood at 38.32 and 12.47 respectively.

A new research has disclosed that tea consumption lessens the risk of having ovarian cancer.

Study lead researcher Dr. Christina Nagle from Queensland Institute of Medical Research stated, "Our results indicate that drinking more than four cups a day of black, green or herbal tea may reduce ovarian cancer risk by almost 30 percent."

Dr. Naglealso said that in spite of previous animal researches suggesting that tea can inhibit the growth of ovarian cancer cells, the results of human researches have been inconsistent.

State-run Hindustan Petroleum Corporation (HPCL) has recorded a fall of 85.16% in its net profit for the quarter ended March 31, 2010.

The company's net profit stood at Rs 7,575.30 million as against Rs 51,040.40 million during the corresponding quarter of last year.

Total income has jumped 24.20% to Rs 317,663.20 million during the period ended March 2010 as compared to Rs 255,776.30 million for the quarter ended March 31, 2009.

The company's board has announced a final dividend of Rs 12 per share.

The Madras High Court has set aside the order issued by Hindustan Petroleum Corporation Ltd. HPCL has been the leading petroleum company owned by the Tamil Nadu state Government. On 27th of August there was a file against HPCL regarding dealership issues. Now the High court has ruled that the company can't go for the dealership accord in the state.

That means it has to terminate its idea of launching retail outlets for the marketing of petroleum products. HPCL was keen on setting up a retail outlet at 1/1, Arani Road, Vandavasi, Tiruvannamalai District.

The Jharkhand industries department is planning to tie up with Hindustan Petroleum Corporation (HPCL) for selling handloom, handicrafts and silk products, using the company's petrol pump network.

Under the arrangment, HPCL will provide space to Jharcraft, the marketing agency of the department, at their pumps, at a subsidised rate. These 18 locations include Kolkata, Mumbai, Pune, Hyderabad, Ahmedabad, Chennai, Chandigarh and Delhi.

Hindustan Dorr Oliver (HDO), a leading engineering firm, has announced that it has bagged a prestigious order worth Rs 127 crore from Hindustan Petroleum Corporation Ltd (HPCL) for construction-related works.     

As per the order terms, the company will execute construction of plant on high-efficiency reverse osmosis technology, a filtration process that is often used for water.

The sources close to the company said that this turnkey basis project will be finalized within 13 months.