Hindustan Oil Exploration Company Ltd (HOEC) [NSE: HINDOILEXP] witnessed a notable upswing in stock price on 16 April 2025, with its shares climbing 4.5% to touch an intraday high of ₹178.66 a piece. This upward movement comes on the back of a key milestone.
Hindustan Oil Exploration Company Ltd Announces Contract Win
Hindustan Oil Exploration Company Ltd announced that it has been awarded a contract area in the resource-rich Mumbai Offshore oil block under the Special Discovered Small Fields Bid Round 2024 on 15 April 2025. The block, designated MB/OSDSF/B15/2024, covers an area of 332.4 square kilometres under a depth of approximately 40 metres. According to the company’s exchange filing, the block includes two existing discoveries — B-15A and B-15-2 — and holds additional potential for further exploration.
A total of six wells have been drilled in the area so far. Among them, the B-15A-1 well delivered promising results, testing approximately 1.66 million standard cubic feet of gas per day (mmscfd) and 1,833 barrels of oil per day (bopd). Meanwhile, Well B-15-2 tested around 1,151 bopd and 0.91 mmscfd of gas from the Panna formation.
The acquisition further strengthens HOEC’s presence in the Mumbai Offshore region, complementing its existing operations in the MB/OSDSF/B80/2016 block. With this addition, the company’s total acreage in the region now exceeds 800 square kilometres.
HOEC Price Performance
Hindustan Oil Exploration Company Ltd has shown signs of recovery over the past month after a challenging period. The stock rose by 3.10% in the last month and jumped by 9.29% over the past week. However, the key question is whether the company can sustain this momentum.
HOEC was going through a rough patch, particularly due to operational hurdles and fluctuations in gas pricing, which affected its revenue. The company’s stock declined by 11.78% during the past year and 11.29% over the last three years.
However, the recent news of the HOEC contract win has had a positive impact on investor sentiment. Since the announcement, the share price has climbed by 4.5% as of 16 April 2025.
Key Details to Watch Out
Now that the HOEC stock news has stirred positive momentum for the company, here are some details investors need to keep an eye on:
| Parameters | Description |
| Company Type | Smallcap |
| Sector | Energy |
| Beta | 1.38 |
| Market Cap (Rs. Cr.) | 2312 |
| 52 Weeks High | 293.55 |
| 1 Week Returns | 10.39% |
| 1 Month Returns | 3.70% |
| FY PE Ratio | 9.98 |
| Sector PE | 11.39 |
| PB Ratio | 1.92 |
| Sector PB | 1.48 |
Final Words
Energy sector stocks have become an attractive investment option due to the stability and long-term growth potential they provide, and the HOEC contract win serves as a timely catalyst. As one of the prominent oil exploration companies in India, HOEC’s movements are closely watched, and this latest development has sparked market optimism. Whether this momentum continues remains to be seen, but one thing is certain—the Indian oil and gas sector is heating up, and HOEC is right at the centre of the action.
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