BPCL surges on the buzz of inking naphtha sales deal with Unipec

Bharat Petroleum Corporation (BPCL) is currently trading at Rs. 544.45, up by 7.95 points or 1.48% from its previous closing of Rs. 536.50 on the BSE. The scrip opened at Rs. 539.00 and has touched a high and low of Rs. 549.00 and Rs. 537.75 respectively. So far 37321 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 588.50 on 19-May-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. 579.10 and Rs. 532.15 respectively. The current market cap of the company is Rs. 39335.78 crore. The promoters holding in the company stood at 54.93%, while Institutions and Non-Institutions held 28.13% and 16.94% respectively. Bharat Petroleum Corp (BPCL) has reportedly signed a four-month naphtha sales deal with Chinese trading house Unipec.  As per deal, Unipec will lift a 35,000-tonne cargo each month from Kochi port from July to October, or a total of 140,000 tonnes during the four-month period. The deal was done at around $1.00 a tonne premium to the refiner's own pricing formula on a free-on-board (FOB) basis. 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.