BPCL rose 1.3% to Rs 992.80 at 10:08 IST on BSE after the Reserve Bank of India raised the ceiling on investment in the company's shares by foreign institutional investors to 49% of the company's equity from earlier 24%.
Meanwhile, the S&P BSE Sensex was down 184.45 points or 0.68% at 26,836.21.
On BSE, so far 37,000 shares were traded in the counter as against average daily volume of 84,539 shares in the past one quarter. The stock hit a high of Rs 999 and a low of Rs 988.60 so far during the day. The stock had hit a record high of Rs 1,032 on 3 June 2016. The stock had hit a 52-week low of Rs 732.20 on 23 February 2016. The stock had underperformed the market over the past one month till 8 June 2016, gaining 4.32% compared with Sensex's 7.1% rise. The scrip, however, outperformed the market in past one quarter, surging 19.42% as against Sensex's 9.58% rise.
The large-cap company has equity capital of Rs 723.08 crore. Face value per share is Rs 10.
It may be recalled that BPCL last week got shareholders' nod for raising the ceiling on investment by FIIs in the company's equity.
BPCL's net profit fell 10.6% to Rs 2549.08 crore on 14% decline in net sales to Rs 44145.54 crore in Q4 March 2016 over Q4 March 2015.
BPCL is a state-run oil refining-cum-marketing company. The Government of India currently holds 54.93% stake in BPCL (as per the shareholding pattern as on 31 March 2016).
Powered by Capital Market - Live News
