Bharat Petroleum Corporation Ltd slips 3.04%

Bharat Petroleum Corporation Ltd fell 3.04% today to trade at Rs 452.8. The S&P BSE Oil&Gas index is down 0.55% to quote at 16260.66. The index is up 11.23 % over last one month.

On the BSE, 80.62 lakh shares were traded in the counter so far compared with average daily volumes of 8.90 lakh shares in the past two weeks. On NSE, 88.96 lakh shares were traded on the counter so far compared to average daily volume of 92.32 lakh in the past one quarter.

The media reported that BPCL has sold its Treasury shares through block deal and has raised nearly Rs 7,000 crore.

BPCL in a regulatory filing on Monday said, A sub-committee of the Board of Directors of BPCL has approved the sale of BPCL equity shares which are held by the BPCL Trust for Investment in shares through accelerated book built offering of equity shares on the screen based trading platform of the stock exchanges. The total number of equity shares being offered is upto 15,89,93,397 equity shares held by the above trust.

BPCL operates in refinery and marketing activities, which includes downstream petroleum sector. The Government of India holds 52.98% stake in BPCL as of 31 December 2020. Its net profit surged 120.3% to Rs 2,777.62 crore on 10.7% decline in net sales to Rs 66,731.39 crore in Q3 FY21 over Q3 FY20.

Among the other constituents of the index, GAIL (India) Ltd decreased 1.26% and Oil & Natural Gas Corpn Ltd lost 0.76% on the day. The S&P BSE Oil&Gas index went up 40.14 % over last one year compared to the 42.81% surge in benchmark SENSEX.

Bharat Petroleum Corporation Ltd has added 9.1% over last one month compared to 11.23% gain in S&P BSE Oil&Gas index and 0.31% rise in the SENSEX. On the BSE, 80.37 lakh shares were traded in the counter so far compared with average daily volumes of 7.29 lakh shares in the past one month. The stock hit a record high of Rs 482.4 on 02 Mar 2021. The stock hit a 52-week low of Rs 252 on 24 Mar 2020.

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