Monday 13 January 2014

BPCL strengthens as its arm plans to invest $15 million in shale gas block in Australia

Bharat Petroleum Corporation (BPCL) is currently trading at Rs. 329.50, up by 3.55 points or 1.09 % from its previous closing of Rs. 325.95 on the BSE.

The scrip opened at Rs. 330.00 and has touched a high and low of Rs. 332.50 and Rs. 327.15 respectively. So far 33541 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 449.00 on 21-Jan-2013 and a 52 week low of Rs. 256.00 on 06-Aug-2013.

Last one week high and low of the scrip stood at Rs. 337.00 and Rs. 315.00 respectively. The current market cap of the company is Rs. 23858.16 crore.

The promoters holding in the company stood at 54.93% while Institutions and Non-Institutions held 27.77% and 17.30% respectively.

Bharat Petroleum Corporation’s (BPCL) wholly owned subsidiary, Bharat Petro Resources (BPRL) is reportedly planning to invest $15 million in its shale gas block in Australia. Currently, the company is in second phase of testing wells and has already invested $13 million. Further, the company will be investing another $2 million in this Australian shale gas block. 

BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.

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