BPCL moves up on getting nod to enter into JV agreement with Oil India
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Bharat Petroleum Corporation is currently trading at Rs. 307.80, up by 1.85 points or 0.60% from its previous closing of Rs. 305.95 on the BSE.
The scrip opened at Rs. 306.35 and has touched a high and low of Rs. 315.30 and Rs. 306.30 respectively. So far 63759 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 376.00 on 30-Sep-2024 and a 52 week low of Rs. 167.00 on 27-Oct-2023.
Last one week high and low of the scrip stood at Rs. 345.10 and Rs. 303.40 respectively. The current market cap of the company is Rs. 132735.46 crore.
The promoters holding in the company stood at 52.98%, while Institutions and Non-Institutions held 38.40% and 8.63% respectively.
Bharat Petroleum Corporation (BPCL) has received approval for entering into a joint venture (JV) agreement with Oil India, for the purpose of developing City Gas Distribution (CGD) project in the state of Arunachal Pradesh. The Authorized Capital of the JV is Rs 125 crore.
BPCL would be benefited to develop CGD Network in the state of Arunachal Pradesh from Oil India’s strong presence and experience in hydrocarbon operation in Northeast Area. The Board of Directors of the company at its meeting held on October 25, 2024 has approved the same.
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.
