 "BPCL gains on 1:1 bonus issue; good Q4 results")
Bharat Petroleum Corporation Limited (BPCL) has surged 7% to Rs 992 on the BSE in early morning trade after the company’s board has recommended the issue of bonus shares in the ratio of 1:1 i.e. one new bonus equity share of Rs 10 each for every existing one fully paid up equity share.
It has fixed July 11, 2016 as the record date for the purpose of the same.
The board also recommended final dividend @ Rs 15 per equity share of face value Rs 10 each for the year 2015-16.
The state-owned oil marketing company had reported a net profit of Rs 2,549 crore against an average analysts estimate of Rs 1,721 crore for the quarter ended March 31, 2016 (Q4FY16). It had profit of Rs 2,852 crore in the previous year quarter.
Net sales down 14% at Rs 44,146 crore for the March quarter against Rs 51,346 crore in the corresponding quarter of previous quarter.
At 09:21 AM, the stock was up 6% at Rs 983 on the BSE compared to 0.35% rise in the S&P BSE Sensex. A combined 747,142 equity shares changed hands on the counter on the NSE and BSE.
It has fixed July 11, 2016 as the record date for the purpose of the same.
The board also recommended final dividend @ Rs 15 per equity share of face value Rs 10 each for the year 2015-16.
The state-owned oil marketing company had reported a net profit of Rs 2,549 crore against an average analysts estimate of Rs 1,721 crore for the quarter ended March 31, 2016 (Q4FY16). It had profit of Rs 2,852 crore in the previous year quarter.
Net sales down 14% at Rs 44,146 crore for the March quarter against Rs 51,346 crore in the corresponding quarter of previous quarter.
At 09:21 AM, the stock was up 6% at Rs 983 on the BSE compared to 0.35% rise in the S&P BSE Sensex. A combined 747,142 equity shares changed hands on the counter on the NSE and BSE.