BPCL surges on planning to invest Rs 1.7 lakh crore over next five years
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Bharat Petroleum Corporation is currently trading at Rs. 339.55, up by 7.00 points or 2.10% from its previous closing of Rs. 332.55 on the BSE.
The scrip opened at Rs. 338.15 and has touched a high and low of Rs. 343.35 and Rs. 336.20 respectively. So far 785102 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 359.05 on 30-Jul-2024 and a 52 week low of Rs. 165.75 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 343.35 and Rs. 320.60 respectively. The current market cap of the company is Rs. 147291.03 crore.
The promoters holding in the company stood at 52.98%, while Institutions and Non-Institutions held 37.28% and 9.74% respectively.
Bharat Petroleum Corporation (BPCL) is planning to invest Rs 1.7 lakh crore over the next five years to grow its core oil refining and fuel marketing business as well as in 'future big bets' of petrochemicals and green energy. BPCL, currently, owns about 14 per cent of India's oil refining capacity and about a quarter of the fuel retailing network. It plans to grow these businesses while foraying into newer areas.
The firm is now implementing the first phase of a multi-decade aspirational journey in the form of 'Project Aspire' - its five-year strategic framework that is based on two fundamental pillars - 'Nurturing the Core' and 'Investing in Future Big Bets'. Project Aspire, with a planned capex outlay of around Rs 1.70 lakh crore over five years, will enable the company to create long-term value for its stakeholders while preserving its planet for future generations.
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.
