Published on 17/08/2022 3:35:03 PM | Source: Accord Fintech

BPCL jumps on planning to invest Rs 1.4 lakh crore in petrochemicals, city gas, clean energy in next 5 years

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Bharat Petroleum Corporation is currently trading at Rs. 353.80, up by 7.90 points or 2.28% from its previous closing of Rs. 345.90 on the BSE.

The scrip opened at Rs. 346.80 and has touched a high and low of Rs. 355.00 and Rs. 346.80 respectively. So far 379763 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 503.00 on 14-Sep-2021 and a 52 week low of Rs. 293.50 on 21-Jun-2022.

Last one week high and low of the scrip stood at Rs. 355.00 and Rs. 327.30 respectively. The current market cap of the company is Rs. 76498.70 crore.

The promoters holding in the company stood at 52.98%, while Institutions and Non-Institutions held 34.73% and 12.30% respectively.

Bharat Petroleum Corporation (BPCL) is planning to invest Rs 1.4 lakh crore in petrochemicals, city gas and clean energy in the next five years as it looks to non-fuel businesses for growth. BPCL is recalibrating its strategies to leverage emerging opportunities while mitigating risks.

The company has firmed up plans to diversify and expand in adjacent and alternative businesses to create additional revenue streams and provide a hedge against any possible future decline in liquid fossil-fuel business.

BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.