BPCL gains on getting nod for Ethylene Cracker Project with capex of Rs 49,000 crore
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Bharat Petroleum Corporation is currently trading at Rs. 366.85, up by 4.55 points or 1.26% from its previous closing of Rs. 362.30 on the BSE.
The scrip opened at Rs. 366.55 and has touched a high and low of Rs. 369.50 and Rs. 365.00 respectively. So far 100865 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 374.85 on 11-May-2023 and a 52 week low of Rs. 288.20 on 20-Oct-2022.
Last one week high and low of the scrip stood at Rs. 374.85 and Rs. 356.45 respectively. The current market cap of the company is Rs. 79448.88 crore.
The promoters holding in the company stood at 52.98%, while Institutions and Non-Institutions held 36.11% and 10.92% respectively.
Bharat Petroleum Corporation (BPCL) has received approval from board of directors for Ethylene Cracker Project at Bina Refinery including downstream Petrochemical Plants and expansion of Refinery with capital expenditure of around Rs 49,000 crore. The board has also approved the setting up two 50 MW Wind power plants for captive consumption one at Bina Refinery in Madhya Pradesh and another at Mumbai Refinery in Maharashtra, with total project cost of around Rs 978 crore (Rs 489 crore for each project).
The company has also received approval for putting up Petroleum Oil Lubricants (POL) and Lube Oil Base Stock (LOBS) storage installations with receipt pipelines at Rasayani in Maharashtra with project cost of around Rs 1903 crore. The progress and completion of the above projects would depend on various factors including clearances from statutory authorities, if required.
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.
