{"id":110598,"date":"2023-09-22T16:49:58","date_gmt":"2023-09-22T11:19:58","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=110598"},"modified":"2023-09-22T17:27:31","modified_gmt":"2023-09-22T11:57:31","slug":"small-cap-oil-stock-in-red-after-hdfc-bank-sold-more-than-2-stake-in-the-company","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/small-cap-oil-stock-in-red-after-hdfc-bank-sold-more-than-2-stake-in-the-company\/","title":{"rendered":"Small cap oil stock in red after HDFC Bank sold more than 2% stake in the company"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1984977208\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>This oil stock lost nearly 2% during today\u2019s trading session after HDFC bank divested more than 2% in the company on a spam of more than a year.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1852918408\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Share price of HOEL closed at Rs. 1530.65 per share. It traded nearly 2% lower in the Friday market to reach its intra- day low of Rs. 158.40 per piece. In the six months and one year, the stock gained 26.46% and 15.56%.<\/p><p>During March 31, 2022 to September 21, 2023, HDFC Bank divested a total of 2.2% stake in the company through the secondary market. On March 31, 2022 and June 23, 2023, the bank sold 0.18%, 2.3 lakh shares at an average price of Rs. 220.22 per share and Rs. 206.34 per share after which its stake in HOEL stood at 6.39%. <\/p><p>Some of these trades took place after the merger of HDFC Limited with and into HDFC Bank Limited. In the last 21 days between September 1 to September 21, 2023, the bank sold another 2.04%, 26 lakh shares crossing the sale of 2% threshold after which its holding in the company stands at 4.34%.<\/p><div class=\"trade-content_5\" id=\"trade-3720550853\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>As per its financial statements on a QoQ basis, the company recorded a revenue of Rs. 167.61 crore in Q1FY24, down by 4.2% from Rs. 175.09 crore in Q4FY23. Its net profit which was Rs. 106.65 crore in Q4FY23 decreased 138.04% to Rs. 66.07 crore in Q1FY24. It has a low debt to equity ratio of 0.38.<\/p><p>Hindustan Oil Exploration Company Limited is an Indian company which was started back in 1983. The company works both onshore and offshore to explore for, develop, and produce crude oil and natural gas. HOEC has now established itself as a rapidly expanding independent E&amp;P player and has built its fortune on a low cost agenda.<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Bhumika Khandelwal<\/strong><\/p><\/blockquote><p><\/p><div class=\"trade-after-content\" id=\"trade-4075191581\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>This oil stock lost nearly 2% during today\u2019s trading session after HDFC bank divested more than 2% in the company on a spam of more than a year. Share price of HOEL closed at Rs. 1530.65 per share. It traded nearly 2% lower in the Friday market to reach its intra- day low of Rs. [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":13963,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31],"tags":[],"class_list":["post-110598","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Small cap oil stock in red after HDFC Bank sold more than 2% stake in the company - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"This banking stock was in green during today\u2019s trading session after it divested more than 2% stake in Hindustan Oil Exploration Limited (HOEL).\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/small-cap-oil-stock-in-red-after-hdfc-bank-sold-more-than-2-stake-in-the-company\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Small cap oil stock in red after HDFC Bank sold more than 2% stake in the company\" \/>\n<meta property=\"og:description\" content=\"This banking stock was in green during today\u2019s trading session after it divested more than 2% stake in Hindustan Oil Exploration Limited (HOEL).\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/small-cap-oil-stock-in-red-after-hdfc-bank-sold-more-than-2-stake-in-the-company\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-22T11:19:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-22T11:57:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/HDFC-Bank-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/small-cap-oil-stock-in-red-after-hdfc-bank-sold-more-than-2-stake-in-the-company\/\",\"url\":\"https:\/\/tradebrains.in\/features\/small-cap-oil-stock-in-red-after-hdfc-bank-sold-more-than-2-stake-in-the-company\/\",\"name\":\"Small cap oil stock in red after HDFC Bank sold more than 2% stake in the company - 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