Meanwhile, the S&P BSE Sensex was up 54.43 points or 0.19% at 28,209.99

On BSE, so far 6.71 lakh shares were traded in the counter as against average daily volume of 3.45 lakh shares in the past one quarter. The stock hit a low of Rs 74.60 so far during the day. The stock hit a high of Rs 78.90 in intraday trade so far, which is 52-week high for the counter. The stock had hit a 52-week low of Rs 26.55 on 29 February 2016.

The small-cap company has equity capital of Rs 130.49 crore. Face value per share is Rs 10.

Hindustan Oil Exploration Company (HOEC) secured two contracts in consortia with Oil India, Prize Petroleum and other private company by the Government of India in the recently concluded bidding for Discovered Small Field Bids Round (DSF 2016).

One of the contract area is offshore field B-80, located in the Mumbai Offshore about 56 square kilometer discovered by ONGC in 1997. This discovered field produced about 3,737 barrels of oil and 7.5 million cubic feet of gas per day during the testing with in place reserves of about 13.20 million barrels of oil and gas in place of 10.50 billion cubic feet.

The other contract area is onshore field Kherem located in Arunachal Pradesh, discovered by Oil India in 1994 with the area of 16.45 square kilo meter, with initial oil in place of about 3 million barrels and gas in place of about 17 billion cubic feet.

HOEC has 50% participating interest in the offshore field B-80 and 40% in the onshore field Kherem. HOEC is the operator for both the fields.

Hindustan Oil Exploration Company (HOEC) reported 30.22% rise in net profit to Rs 4.18 crore on 17.64% rise in total income to Rs 9.67 crore in Q3 December 2016 over Q3 December 2015.

HOEC has a wholly owned subsidiary, HOEC Bardahl India, engaged in marketing of high performance fuel/engine additives.