Hindustan Petroleum Corporation Limited is a subsidiary of Oil and Natural Gas Corporation with its headquarters in Mumbai, Maharashtra. It has a 25% market-share in India among public sector undertakings coupled with a strong marketing infrastructure. Its parent company is ONGC which owns a majority stake in the company. The company is ranked 367th on the Fortune Global 500 list of the world's biggest corporations as of 2016. HPCL was removed from NIFTY 50 INDEX in March 2019 On 24 October 2019, the company became a Maharatna PSU.