Hindustan Oil Exploration sinks 19% as Q1 profit plunges 80% QoQ

Shares of Hindustan Oil Exploration tumbled 19.4 per cent to Rs 191.3 apiece on the BSE in Wednesday’s intra-day trade as the company suffered from a twin blow of weak June quarter results and higher windfall tax on petroleum products.

At 1:10 PM, shares of the company, enagaged in oil exploration and production, were down around 17 per cent at Rs 197.5 per share as against an unchanged S&P BSE Sensex index.