After HPCL, Another Refineries PSU Set To Consider Bonus Share, Dividend On May 9; Bet?

Large cap maharatna public sector undertaking Bharat Petroleum Corporation Ltd on May 6 informed BSE about its decision to consider bonus issue on May 9. Current market price of Bharat Petroleum Corporation Ltd share on BSE is Rs 604.05 per share with intraday fall of 0.98%. The PSU has a market capitalisaton of Rs 1,31,033.71 crore. BPCL shares gave return of 34% YTD and soared 62% in last 6-months. More details below:

Bharat Petroleum Corporation To Consider Bonus Share On May 9: As per the BSE filing of the company May 6, "This is further to our intimation dated 30th April 2024 regarding the meeting of Board of Directors of Bharat Petroleum Corporation Limited scheduled on Thursday, 9th May 2024 inter-alia, to consider and approve the financial results for the quarter and financial year ended 31st March 2024 and also to consider recommendation of final dividend, if any, for the financial year 2023-24. Pursuant to Regulation 29(1) & 29(2) of SEBI (Listing Obligations & Disclosure Requirements), Regulations 2015, it is hereby informed that the Board of Directors of the Company may consider issue of Bonus Shares in the aforesaid Board Meeting."

BPCL Share Performance: The 52-week high price of Bharat Petroleum Corporation share on BSE is Rs 687.65 per share (as on 16/02/2024) and 52-week low price is Rs 331.50 per share (as on 26/10/2023), respectively. Bharat Petroleum Corporation shares surged 69% in last 2-years, gained 36% in last 3-years, and offered return of 60% in last 5-years.

Should You Buy BPCL Share? Sneha Seth, Derivatives Research Analyst, Angel One recommended buy call for Bharat Petroleum Corporation (BPCL) with a stop loss of Rs 585 and a price target of Rs 640 on the upside.

Bharat Petroleum Corporation About: BPCL, a Maharatna PSU, aims to efficiently meet the energy needs of our nation with a combined refining capacity of over 40 MMT through refineries in Mumbai, Kochi, Numaligarh and Bina, which are strategically located. One of the best in class & digitally enabled refineries with state-of-the-art technology, efficient operations and high standards of quality, safety, occupational health, environment protection and security.

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