Tuesday , October 26 2021

BPCL rise on planning to sell some stake in Petronet LNG, Indraprastha Gas

Bharat Petroleum Corporation is currently trading at Rs. 475.75, up by 1.20 points or 0.25% from its previous closing of Rs. 474.55 on the BSE.

The scrip opened at Rs. 479.70 and has touched a high and low of Rs. 480.50 and Rs. 472.85 respectively. So far 366550 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 482.40 on 02-Mar-2021 and a 52 week low of Rs. 312.10 on 26-May-2020.

Last one week high and low of the scrip stood at Rs. 480.50 and Rs. 441.50 respectively. The current market cap of the company is Rs. 103408.28 crore.

The promoters holding in the company stood at 52.98%, while Institutions and Non-Institutions held 36.59% and 10.43% respectively.

Bharat Petroleum Corporation (BPCL) is planning to sell a part of its stake in Petronet LNG and Indraprastha Gas (IGL) to shed its promoter status to obviate the need for its new owner to make open offers for the two gas companies. The company holds 12.5 per cent of shareholding in India’s largest liquefied natural gas importer, Petronet, and a 22.5 per cent stake in city gas retailer, IGL. It is a promoter of both the listed companies and holds board positions.

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.

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