Rs 21/Sh Dividend, 1:1 Bonus Share: Maharatna Oil PSU Gives New Update On Bonus Allotment

Large cap maharatna public sector undertaking Bharat Petroleum Corporation Ltd (BPCL) today issued new update on 1:1 bonus share to the shareholders. Current market price of Bharat Petroleum Corporation Ltd share on BSE is Rs 305.35 per share with intraday fall of 0.80%. BPCL shares offered return of 69.87% in last 1-year and gained 98% in last 2-years. Earlier, BPCL recommended 1:1 bonus share and a final dividend of Rs 21/- per equity share of the face value of Rs 10/- each (pre-bonus) which translated into a final dividend of Rs 10.5/- per equity share post bonus.

The record for dividend is yet to be issued. BPCL fixed June 22, 2024 as the record date for bonus share. Several brokerages have already issued buy recommendations for BPCL shares. BPCL has a PE of 2.50 and ROE of 35.72. Check details below:

Bharat Petroleum Corporation Ltd Issues Update On Bonus Share: As per the BSE filing of the company dated June 24, "Further to our letter dated 9th May, 2024 and in terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the sub-committee of the Board has allotted 216,92,52,744 equity shares of Rs.10 each as fully paid-up Bonus equity shares, on Monday, 24th June 2024. The Bonus equity shares are allotted in the proportion of 1:1 i.e. one new equity Bonus share of Rs.10 for every one existing paid-up equity share of Rs.10, to the eligible Members whose names appear in the register of Members/list of beneficial owners as on 22nd June 2024, being the record date fixed for this purpose."

Bharat Petroleum Corporation Ltd Dividend: Board of BPCL recommended an attractive final dividend of Rs 21/- per equity share of the FV of Rs 10/- each (pre-bonus), which translates into final dividend of Rs.10.5/- per equity share of face value of Rs.10/- per equity share) (post-bonus), subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM). The final dividend would be paid within 30 days from the date of its declaration at the AGM."

BPCL Share Performance: BPCL shares slipped 2.56% in last 1-week, over 6% in last 1-month, gained 37% in last 6-months, soared 70% in last 1-year, jumped 31% in last 3-years, and gained 60% in last 5-years. The 52-week high price of Bharat Petroleum Corporation share on BSE is Rs 343.83 per share (as on 16/02/2024) and 52-week low price is Rs 165.75 per share (as on 26/10/2023), respectively.

Brokerages Recommend Buy Call To BPCL Shares: Jefferies recommended buy rating to BPCL shares as the analyst downgraded the target price to Rs 730 from Rs 890. Citi too assigned a buy rating for BPCL shares and upgraded target price to Rs 760 from Rs 750 earlier. Meanwhile, Motilal Oswal has issued neutral rating for BPCL shares with the target price of Rs 660. According to Motilal Oswal, "we maintain our Neutral rating with a TP of INR660, valuing the stock at 1.5x FY26E BV."

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 Motilal Oswal, Jefferies, and Citi. 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.