Bharat Petroleum Corporation gains on amalgamating subsidiarity refinery with itself
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Bharat Petroleum Corporation is currently trading at Rs. 317.80, up by 1.35 points or 0.43% from its previous closing of Rs. 316.45 on the BSE.
The scrip opened at Rs. 317.55 and has touched a high and low of Rs. 318.30 and Rs. 315.55 respectively. So far 56892 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. 319.95 and Rs. 305.90 respectively. The current market cap of the company is Rs. 68656.85 crore.
The promoters holding in the company stood at 52.98%, while Institutions and Non-Institutions held 34.40% and 12.62% respectively.
Bharat Petroleum Corporation (BPCL) has amalgamated its subsidiarity refinery Bharat Oman Refineries (BORL), in Bina with itself. The amalgamation is expected to be mutually beneficial to both companies. BPCL and its group companies have a significant presence in the upstream, refining, and downstream value chain of oil and gas industry while BORL provides product security and logistics advantage in Northern and Central India, through a network of pipelines. Bina Refinery is therefore of strategic importance to BPCL in its efforts to meet the demand for petroleum products in the hinterland.
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.
