Bharat Petroleum Corporation (BPCL) is trading in the positive terrain as international crude oil prices crude prices plunged over 4 percent on Wednesday.
The scrip is currently trading at Rs 530.00, up by 15.55 points or 3.02% from its previous closing of Rs 514.45 on the BSE.
The scrip opened at Rs 519.90 and has touched a high and low of Rs 534.40 and Rs 519.15 respectively. So far 64287 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 721.65 on 15-Dec-2010 and a 52 week low of Rs 487.05 on 24-Nov-2011.
Last one week high and low of the scrip stood at Rs 558.50 and Rs 507.70 respectively. The current market cap of the company is Rs 18599.53 crore.
The promoters holding in the company stood at 54.93% while Institutions and Non-Institutions held 27.74% and 17.33% respectively.
Crude prices plunged on Wednesday, posting their biggest one-day drop in three months. Nymex crude slid more than 5% to below $95 a barrel on growing worries about weak oil demand in the US and Europe. The euro weakened to less than $1.30 for the first time since January on fear that European crisis will spread and amid the fear of global oil demand, Organization of Petroleum Exporting Countries (OPEC) decision to hold output at current levels weighed heavily on the crude prices. OPEC decided on an output target of 30 million barrels a day at the group’s meeting in Vienna.
Further, the US Energy Information Administration reported crude stocks fell by less than expected last week, and gasoline inventories rose by more than twice the predicted level. The EIA also said total oil demand in the US, the world's biggest oil consumer, lags the year-earlier level by the biggest level in two-and-a-half years.
Benchmark crude for January delivery settled 5.2% lower, at $94.95 a barrel, the biggest percentage drop in a single day since September 22 on the New York Mercantile Exchange. In london ICE December Brent crude, which expires at Thursday's settlement, settled $4.48 a barrel or 4.1 percent lower, at $105.02 a barrel.
| Company Name | CMP |
|---|---|
| Reliance Industries | 2911.25 |
| Indian Oil Corp. | 167.20 |
| BPCL | 646.50 |
| HPCL | 546.65 |
| MRPL | 213.90 |
| View more.. | |
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