BPCL plans to sell 24% stake in Bina refinery

The company is reportedly planning to boost the capacity of the refinery by about 30%.

Bharat Petroleum Corp is in talks with foreign companies to sell 24% stake in its 120,000 barrels per day Bina refinery in Madhya Pradesh, its chairman S. Varadarajan reportedly said.

Report says that the company is planning to boost the capacity of the refinery by about 30%.

The scrip opened at Rs. 900 and has touched a high and low of Rs. 906.2 and Rs. 890.55 respectively. So far 643858(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 65597.82 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 987 on 23-Jul-2015 and a 52 week low of Rs. 622.45 on 15-Dec-2014. Last one week high and low of the scrip stood at Rs. 921.9 and Rs. 896 respectively.

The promoters holding in the company stood at 54.93 % while Institutions and Non-Institutions held 30.36 % and 14.71 % respectively.

The stock is currently trading below its 100 DMA.