BPCL rose 2.76% to Rs 765.50 at 15:18 IST on BSE on buzz a foreign brokerage maintained outperform rating on the stock.
Meanwhile, the S&P BSE Sensex was down 659.59 points or 2.35% at 27,452.24.
On BSE, so far 2.03 lakh shares were traded in the counter as against average daily volume of 1.18 lakh shares in the past one quarter.
The stock hit a high of Rs 772.65 and a low of Rs 738.90 so far during the day. The stock had hit a record high of Rs 789.05 on 4 March 2015. The stock had hit a 52-week low of Rs 431.05 on 25 March 2014.
The stock had outperformed the market over the past one month till 25 March 2015, sliding 0.74% compared with the Sensex's 3.09% fall. The scrip had also outperformed the market in past one quarter, surging 16.31% as against Sensex's 3.32% rise.
The foreign brokerage reportedly said that BPCL is the most efficient oil marketing company (OMC) and its refinery expansion plan will boost its profit in the near future. BPCL has longer term plans to double refinery capacity, the brokerage added.
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BPCL reported net profit of Rs 551.16 crore in Q3 December 2014 compared with net loss of Rs 1088.94 crore in Q3 December 2013. Net sales declined 10.6% to Rs 57872.82 crore in Q3 December 2014 over Q3 December 2013.
The Government of India held 54.93% stake BPCL (as per the shareholding pattern as on 31 December 2014).
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