Maharatna PSU Gas Stock Set For Dividend Declaration, Should You Buy?

Large cap maharatna public sector undertaking Bharat Petroleum Corporation Ltd today informed BSE that its board of directors will hold a meeting on November 29, 2023 to consider the proposal of declaration of interim dividend for the financial year 2023-24 and fix record date for the same. Last trading price of BPCL share on BSE is Rs 388.10 per share.

Share price of BPCL recorded an intraday fall of 0.98%. BPCL shares price surged 4.13% in last 2-weeks. Meanwhile, leading brokerage firm HDFC securities has assigned buy call to BPCL shares with target price of Rs 470 per share. If you buy BPCL shares at today's share price, you can get potential return of 21%. Check details below:

BPCL To Consider Interim Dividend On November 29, 2023: According to the BSE filing of the company issued as on November 21, 2023, "Pursuant to Regulation 29(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that a meeting of the Board of Directors would be held on Wednesday, 29th November 2023, to consider the proposal of declaration of interim dividend for the Financial Year 2023-24 and fixation of Record date."

It is further notified that the Trading Window in terms of "The Code for Prevention of Insider Trading in the securities of BPCL" shall remain closed from 22nd November 2023 to 1st December 2023 (both days inclusive). You are requested to kindly take the same on your record.

BPCL Stock Performance & Return: NSE BPCL share price is Rs 387.00 per share with intraday fall of 1.28%. The stock's 52-week high price is Rs 407.00 per share and 52-week low price is Rs 304.50 per share, respectively. The company has a market capitalisation of Rs 84,188.70 crore. BPCL shares offered return of 12% in last 1-month, gained 10% in last 3-months, jumped 8% in last 6-months, soared 16% year-to-date, and offered return of 25% in last 1-year. BPCL share price BSE witnessed a decline of 4% in last 2-years. Bharat Petroleum Corporation shares offered gain of 19% in last 5-years.

Bharat Petroleum Corporation Valuation: According to HDFC Securities, in its brokerage report dated November 1, 2023, "Our BUY rating on Bharat Petroleum (BPCL), with a target price of INR 470, is premised on robust refining margins, a sharp recovery in auto-fuel gross marketing margins, and the reduction in LPG underrecoveries. Q2FY24 EBITDA stood at INR 129bn, while APAT was at INR 85bn, coming in above our estimates, supported by stronger-than-expected performance from the refining segment. Earnings were also supported by higher inventory gains.
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.

Disclaimer: The stock has been picked from the brokerage report of HDFC Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.