BPCL gains on plan to diversify into Petrochemicals

04 Dec 2014 Evaluate

Bharat Petroleum Corporation is currently trading at Rs. 719.90, up by 8.50 points or 1.19 % from its previous closing of Rs. 711.40 on the BSE.

The scrip opened at Rs. 713.15 and has touched a high and low of Rs. 721.80 and Rs. 707.15 respectively. So far 37867 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 784.50 on 28-Nov-2014 and a 52 week low of Rs. 315.00 on 08-Jan-2014.

Last one week high and low of the scrip stood at Rs. 784.50 and Rs. 707.00 respectively. The current market cap of the company is Rs. 52134.37 crore.

The promoters holding in the company stood at 54.93 % while Institutions and Non-Institutions held 28.35 % and 16.72 % respectively.

Bharat Petroleum Corporation (BPCL) has received approval for diversification into Petrochemicals at an estimated capital cost of Rs 4,588 crore. The company plans to produce niche petrochemicals such as Acrylic Acid, Acrylates and Oxo Alcohols, that are predominantly being imported into the country, at its Kochi Refinery facility, using the Polymer Grade Propylene that will be available after the ongoing Integrated Refinery Expansion Project (IREP) is completed.

The major end uses are in paints and coatings, adhesives, plasticisers, solvents, water treatment etc. The unit is expected to come on stream during the Financial Year 2018-19. The project proposal will now be submitted for obtaining environmental clearance.

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.

 

BPCL Share Price

667.50 39.90 (6.36%)
03-Jun-2024 16:01 View Price Chart
Peers
Company Name CMP
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