BPCL rises on entering into MoU for selling its lubricants at IGL Gas Stations

Bharat Petroleum Corporation (BPCL) is currently trading at Rs. 446.25, up by 6.25 points or 1.42% from its previous closing of Rs. 440.00 on the BSE. The scrip opened at Rs. 440.10 and has touched a high and low of Rs. 447.60 and Rs. 437.25 respectively. So far 77054 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 468.80 on 31-Mar-2014 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. 457.25 and Rs. 431.90 respectively. The current market cap of the company is Rs. 32162.79 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 (BPCL) has entered into a memorandum of understanding (MoU) with Indraprastha Gas (IGL) for selling its lubricants at IGL Gas Stations across Delhi and adjoining towns. IGL currently has a network of 115 CNG Stations across Delhi/NCR and lakhs of customers visit these outlets every day. The agreement is initially valid for a period of 5 years. BPCL is looking to sell 100 tonnes of lubricants through IGL network in 2014-15. 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.