Shares of Bharat Petroleum Corporation (BPCL) jumped approximately 7 percent, reaching a new all-time high of ₹370.50 on the NSE, fueled by strong trading activity.By midday, a total of three crore shares had been traded on both the BSE and NSE combined, significantly surpassing the one-month average trading volume of one crore shares
During the day, about 3 crore shares were traded across both exchanges, with the company’s total market capitalization reaching ₹1.6 lakh crore.
BPCL stock finally closed 6.23 per cent higher at ₹366.60 per share on Friday. The stock has risen 62 percent this year, outperforming the benchmark Nifty, which has increased by 18 percent.
BPCL Stock Performance Over the last year, BPCL stock has increased by 110%, more than tripling investors’ cash. In contrast, the Nifty index has grown by 30% over the same time span.
BPCL stated earlier this month that its subsidiary, in conjunction with Indian Oil Corporation (IOC), has secured a production concession from the Supreme Council for Financial and Economic Affairs (SCFEA) in Abu Dhabi.
The company announced that the production concession agreement comes after Urja Bharat Pte Limited (UBPL) was awarded the exploration and production concession in March 2019 and successfully completed the exploration phase. UBPL is a 50:50 Special Purpose Vehicle (SPV) formed by BPCL and IOC.
For the quarter ending June 2024, BPCL reported a 73 percent decrease in net profit, totaling ₹2,841.55 crore. This significant drop was attributed to lower refinery margins and a reduction in fuel prices, which affected marketing margins.
Revenue from operations for the company in Q1FY25 experienced a slight year-on-year decline of 0.1 percent, reaching ₹1.28 lakh crore