BPCL announced a dividend of ₹58 per share after the announcement of Q4FY21 results By Mr. Yash Gupta, Angel Broking Ltd
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Below are Quote on BPCL announced a dividend of ₹58 per share after the announcement of Q4FY21 results by Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd
This profit after tax includes one off component also as the company has sold 61.5% stake in Numaligarh Refinery for ₹9876 Crores which is one time event. So this type of dividend yield can be maintained by the company and we expect this dividend yield of 12.1% to fall significantly in coming quarters. We suggest retail investors not to buy BPCL on expectation of getting this dividend of ₹58 as after the ex date of dividend the current market price of the share will fall by the almost same amount.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
