BPCL rises on getting licenses for retailing CNG to automobiles, piped cooking gas to households
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Bharat Petroleum Corporation is currently trading at Rs. 369.85, up by 3.50 points or 0.96% from its previous closing of Rs. 366.35 on the BSE.
The scrip opened at Rs. 370.10 and has touched a high and low of Rs. 371.05 and Rs. 365.35 respectively. So far 122799 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. 331.00 on 24-Feb-2022.
Last one week high and low of the scrip stood at Rs. 397.00 and Rs. 364.35 respectively. The current market cap of the company is Rs. 79871.89 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 won licenses for retailing CNG to automobiles and piped cooking gas to households in the latest bid round. The company has won the license for a Geographical Areas comprising districts such as Lakhimpur Kheri, Sitapur, Bahraich, Shrawasti, Balrampur, Siddharth Nagar & Maharajganj districts in Uttar Pradesh and another for Chhattisgarh's Koriya, Surajpur, Balrampur and Surguja districts have been clubbed into one Geographical Areas.
After this bid round, about 88 per cent of the country's area would be authorised for the development of city gas distribution (CGD) network to provide access to natural gas to approximately 98 per cent of the population.
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.
