BPCL declined 1.74% to Rs 750 at 9:55 IST on BSE after the company said its net profit fell 50.14% to Rs 464.20 crore on 0.06% rise in total income to Rs 62280.28 crore in Q2 September 2014 over Q2 September 2013.
The result was announced after market hours on Wednesday, 12 November 2014.
Meanwhile, the S&P BSE Sensex was up 65.14 points or 0.23% at 28,079.51
On BSE, so far 31,933 shares were traded in the counter as against average daily volume of 1.56 lakh shares in the past one quarter.
The stock hit a high of Rs 754 and a low of Rs 745.90 so far during the day. The stock had hit a record high of Rs 777.15 on 10 November 2014. The stock had hit a 52-week low of Rs 315 on 8 January 2014.
The stock had outperformed the market over the past one month till 12 November 2014, rising 13.87% compared with the Sensex's 6.51% rise. The scrip had also outperformed the market in past one quarter, gaining 29.12 % as against Sensex's 8.22% rise.
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The recent fall in crude oil prices had boosted prices of the stock. Lower crude oil prices could reduce under-recoveries of PSU OMCs on domestic sale of LPG and kerosene at controlled prices. The government has already freed pricing of petrol and diesel.
The large-cap public sector oil marketing company has an equity capital of Rs 723.08 crore. Face value per share is Rs 10.
Meanwhile, PSU OMCs are reportedly likely to reduce price of petrol and diesel by about Rs 1 per litre on 16 November 2014. State run oil marketing firms reportedly plan to cut petrol rates for the seventh time since June 2014 and diesel for the third time since the fuel was decontrolled on 18 October in next revision due on 16 November 2014, as Indian consumers gain from the sharp fall in global oil prices before polls in Jharkhand and Jammu & Kashmir. PSU OMCs review fuel prices on 1st and 16th of every month based on the average imported oil price in the previous fortnight.
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