BPCL rose 2.1% to Rs 720.15 at 10:35 IST on BSE after the company said that it has set-up a Medium Term Note Programme to facilitate the raising of funds on a regular basis from the international debt capital markets.
The company made announcement after trading hours yesterday, 28 January 2015.
Meanwhile, the S&P BSE Sensex was down 103 points or 0.35% at 29,460.97.
On BSE, so far 41,250 shares were traded in the counter as against average daily volume of 1.36 lakh shares in the past one quarter.
The stock hit a high of Rs 721 and a low of Rs 707 so far during the day. The stock had hit a record high of Rs 784.50 on 28 November 2014. The stock had hit a 52-week low of Rs 333.50 on 28 January 2014.
The stock had outperformed the market over the past one month till 28 January 2015, gaining 9.55% compared with Sensex's 8.51% rise. The scrip had, however, underperformed the market in past one quarter, gaining 0.48% as against Sensex's 9.96% rise.
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The large-cap PSU oil marketing company has equity capital of Rs 723.08 crore. Face value per share is Rs 10.
BPCL said that it has set-up a Medium Term Note (MTN) Programme to facilitate the raising of funds on a regular basis from the international debt capital markets. The aggregate nominal amount of notes outstanding under the program will not exceed $2 billion or its equivalent in other currencies, BPCL said. Fitch Ratings has assigned a 'BBB-' rating and Moody's Investors Service has assigned a provisional (P) Baa3 rating to the MTN Programme.
BPCL's net profit fell 50.1% to Rs 464.20 crore on 0.1% rise in total income to Rs 62280.28 crore in Q2 September 2014 over Q2 September 2013.
The Government of India holds 54.93% stake in the firm as at 31 December 2014.
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