BPCL surges on inking crude oil import deal with ADNOC

BPCL is currently trading at Rs. 568.75, up by 17.20 points or 3.12% from its previous closing of Rs. 551.55 on the BSE. The scrip opened at Rs. 556.85 and has touched a high and low of Rs. 569.85 and Rs. 556.85 respectively. So far 19,000 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 573.80 on 16-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. 573.80 and Rs. 481.05 respectively. The current market cap of the company is Rs. 41,125.00 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 Corporation (BPCL) has inked a deal with ADNOC, national oil company of the United Arab Emirates, to import 60,000 barrels per day (bpd) oil in 2014/15. The company, along with its subsidiary Bharat Oman Refineries (BORL), has also inked a deal with Kuwati Petroleum Company to buy 84,000 bpd oil in the fiscal year to March 31, 2015. The company operates a 2,40,000 bpd Mumbai refinery in western India and a 1,90,000 bpd Kochi refinery in the south coast of the country. 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.