BPCL gains on planning to invest Rs 1500-1700 crore in floating LNG terminal in Andhra Pradesh

Bharat Petroleum Corporation is currently trading at Rs. 343.70, up by 1.30 points or 0.38% from its previous closing of Rs. 342.40 on the BSE.

The scrip opened at Rs. 342.30 and has touched a high and low of Rs. 344.00 and Rs. 337.65 respectively. So far 115376 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 421.30 on 31-May-2019 and a 52 week low of Rs. 239.00 on 05-Oct-2018.

Last one week high and low of the scrip stood at Rs. 345.85 and Rs. 308.55 respectively. The current market cap of the company is Rs. 73873.90 crore.

The promoters holding in the company stood at 53.29%, while Institutions and Non-Institutions held 31.74% and 14.96% respectively.

Bharat Petroleum Corporation (BPCL) is planning to invest Rs 1,500-1,700 crore in building a floating liquefied natural gas (LNG) import terminal at Krishnapatnam in Andhra Pradesh by 2022. The company will hold 74 percent interest in the project while the remaining 26 percent will be with Petronet LNG.

The project is likely to be commissioned by 2022. The company has made a foray into city gas distribution (CGD) and is now looking to set up an LNG import terminal of its own.

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.