BPCL surges as crude prices plummet on fear of US sliding to recession

Bharat Petroleum Corporation (BPCL) is currently trading at Rs 684.55, up by 5.90 points or 0.87% from its previous closing of Rs 678.65 on the BSE.

The scrip opened at Rs 685.00 and has touched a high and low of Rs 693.95 and Rs 682.20 respectively. So far 13261 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 814.90 on 21-Sep-2010 and a 52 week low of Rs 530.00 on 24-Feb-2011.

Last one week high and low of the scrip stood at Rs 697.60 and Rs 674.05 respectively. The current market cap of the company is Rs 24536.06 crore.

The promoters holding in the company stood at 54.93% while Institutions and Non-Institutions held 27.79% and 17.28% respectively.

Crude prices witnessed another down day on Thursday falling sharply by about 6 percent on fear of recession, as fresh batch of weak economic data from the United States hit investor confidence already worried about global economic growth and Europe's debt problems. US existing home sales unexpectedly dropped in July also the claim for jobless benefits rose last week and consumer prices increased at the fastest pace in four months in July.

Benchmark crude for September fell $5.20, or 5.94 percent, to settle at $82.38 a barrel after trading in a range of $87.53 and $81.15 on the New York Mercantile Exchange. In London, Brent crude ended $3.55 lower at $107.05 a barrel on the ICE.