Maharatna PSU Stock BPCL To Trade Ex-Dividend This Week For Rs 21/Share: Buy?

In the energy industry, Bharat Petroleum Corporation Ltd. (BPCL) is a large-cap business. Bharat Petroleum is a Fortune 500 oil refining, exploration, and marketing conglomerate. It is also India's "best performing" Maharatna Public Sector Undertaking. The shares will trade ex-dividend tomorrow, December 12, in accordance with the company's declaration of a 210% interim dividend for FY24.

BPCL Dividend

During its meeting on November 29, 2023, the Board of Directors decided to declare an Interim Dividend for the financial year 2023-2024 of Rs 21/-per equity share, with a face value of Rs 10/-each, or 210%. Furthermore, the record date for determining a shareholder's eligibility to receive the aforementioned interim dividend has been set by the Board of Directors for Tuesday, December 12, 2023. Please take notice that the aforementioned dividend will be paid on or before December 28, 2023.

BPCL Financials

For the second quarter that ended on September 30, 2023, state-owned Bharat Petroleum Corporation Ltd. (BPCL) announced a consolidated net profit of Rs 8,501.2 crore. According to BPCL's regulatory filing, the business reported a net loss of Rs 304 crore for the same period in the previous year. From Rs 1.28 lakh crore in Q2 FY23 to Rs 1.17 lakh crore in Q2 FY24, the company's revenue from operations decreased.

Compared to $22.30 in the same period of the previous fiscal, the company's gross refining margins (GRM) for the April-September 2023 period were $15.42 per barrel. EBITDA margin was 1.55 percent in Q2 FY 22-23 compared to 11.73 percent in Q2 FY 23-24. Standalone EBITDA for Q2 FY 23-24 is Rs 13,679.21 crore which was Rs 1,991.41 crore in Q2 FY 22-23.

BPCL Share Price Target

Deven Mehata-Equity Research Analyst at Choice Broking said, "BPCL's current stock analysis reflects a positive outlook. Currently trading at 471 levels, the stock has been exhibiting a consistent higher high higher low formation on weekly charts over the past six weeks. Having reached its 52-week high at 482.5 levels, BPCL is consolidating in a range of 465-482, presenting a potential breakout scenario if it surpasses the 482 resistance. The stock's position above all significant moving averages underscores its strength. However, caution is advised as the momentum indicator RSI has touched 84, indicating overbought conditions. This may trigger profit booking, potentially influencing a short-term correction."

"Strong support at 430, in proximity to the 20-Day EMA, provides a cushion for potential declines. Investors holding positions from lower levels are encouraged to book profits at current levels. For new positions, a prudent approach would be to wait for potential dips in the stock. As always, staying attuned to market dynamics and adapting strategies based on evolving trends is essential for informed decision-making," the analyst further added.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.