Hindustan Petroleum Corporation Limited (HPCL) expects India's energy demand to rise by 5% if the country achieves its targeted 7% economic growth, according to Chairman and Managing Director Vikas Kaushal. Speaking at the 12th SBI Banking & Economics Conclave, Kaushal shared insights on HPCL's performance and the broader energy landscape.

HPCL's Recent Performance

Kaushal described HPCL's recent quarterly results as 'blockbuster,' highlighting a significant milestone for the company:

• Market Capitalization: Crossed ₹1 lakh crore on October 30

Energy Market Outlook

The HPCL chief provided perspectives on the global and domestic energy scenario:

• Global Crude Oil: Sufficient availability
• Key Challenge: Efficiently matching supply with demand

HPCL's Operational Strengths

Kaushal emphasized HPCL's operational capabilities and compliance measures:

Factors Influencing US Cargo Economics

• Larger shipping capacities
• Lower production costs

The company's ability to process a wide variety of crude oil types and its focus on operational efficiency position it well to navigate the dynamic energy market. As India aims for robust economic growth, HPCL's strategies align with the anticipated increase in energy demand, while maintaining a diversified and compliant sourcing approach.

Hindustan Petroleum Corporation Limited (HPCL) and Nippon Life India Asset Management have announced interim dividends, setting November 6 as the record date for dividend eligibility. This move comes as part of their corporate actions, affecting shareholders and potential investors.

Dividend Details

Key Dates for Investors

• Record Date: November 6, 2023
• Last Date to Own Shares: November 4, 2023 (due to T+1 settlement cycle)

Additional Companies Trading Ex-Dividend

Several other companies will also trade ex-dividend on the same date:

• Share India Securities Ltd.
• TD Power Systems Ltd.
• Vaibhav Global Ltd.

Important Note for Investors

Investors should be aware that dividend income exceeding Rs 5,000 annually is subject to a 10% Tax Deducted at Source (TDS) for resident individuals. This tax implication is crucial for investors to consider when making investment decisions.

Impact of T+1 Settlement Cycle

India's T+1 settlement cycle plays a significant role in dividend eligibility. Investors must own the shares by November 4 to qualify for the dividend payments. This shortened settlement cycle, implemented to enhance market efficiency, requires investors to be more vigilant about transaction timing.

The announcement of these interim dividends by HPCL and Nippon Life India Asset Management, along with the ex-dividend dates for other companies, highlights the ongoing corporate actions in the Indian stock market. Investors are advised to keep these dates in mind and consider the tax implications when managing their portfolios.