IOC, BPCL, HPCL gain up to 3% ahead of board meeting on interim dividend

Shares of oil marketing companies (OMCs) such as Indian Oil Corporation (IOCL), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) were trading higher by up to 3% on BSE ahead of their board meetings today to consider the interim dividend.

“The board of directors of the company would consider declaration of second interim dividend for the financial year 2016-17 on March 23, 2017 and record date to be considered,” these companies have said in a separate regulatory filing.

Among the individual stocks, IOCL was up 3% at Rs 383, while HPCL up 2% at Rs 522 and BPCL by 1% at Rs 654 as compared to 0.35% rise in the S&P BSE Sensex.

In January 2017, HPCL had declared an interim dividend of Rs 22.50 per share, followed by BPCL (Rs 19.50 per share) and IOCL (Rs 13.50 per share).

In past one month, BPCL and HPCL down 9% each and IOC down 1% has underperformed the Sensex, which gain 1%.

Indian Oil Corporation

Bharat Petroleum

Hindustan Petroleum Corporation Ltd.(HPCL)