BPCL Share Price News: Technical analyst Nooresh Merani has initiated a BUY coverage on Bharat Petroleum Corporation Limited (BPCL), one of India’s leading petroleum refineries. Merani, also an ET NOW Panellist, has recommended buying shares of the state-run company.
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Stocks of BPCL opened in green at Rs 649.90 vs previous closure of Rs 644 on NSE. Around 9:20 am, the PSU stock is trading in red at Rs 641.65, up by 0.36 per cent. More than 5.64 lakh equity shares of NIFTY 50 stock changed hands at the same time.
BPCL Dividend 2024 Announcement
BPCL board has recommended a final dividend of Rs 21 per equity share of face value of Rs 10 each (pre-bonus), which translates into final dividend of Rs 10.5 per equity share of face value of Rs 10 per equity share (post-bonus).
BPCL Bonus Issue 2024
In addition to the final dividend, the company will also issue bonus shares to the holders. This is BPCL’s first bonus share issue after 2017. “We wish to inform that the Board has recommended issue of Bonus Shares in the ratio of 1:1 i.e. one new bonus equity share of Rs 10 each for every one existing equity shares of Rs 10 each fully paid up,” BPCL said.
BPCL Latest News
Recently, the government-owned oil producer has announced the inauguration of state-of-the-art hydrant facilities at the newly established Manohar International Airport in North Goa. The introduction of the advanced hydrant facility is a strategic move by BPCL to cater to the rapidly growing refueling demands of the new greenfield airport.
BPCL Share Price Target 2024 by Nooresh Merani
Market analyst Nooresh Merani has maintained that the target price for the PSU stock is Rs 700 apiece. He has also set the stop loss for the stock at Rs 630 apiece.
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BPCL Share Price History
BPCL is a constituent of the S&P BSE 100. According to BSE analytics (as of May 22), shares of Bharat Petroleum Corporation Limited gained by 6.31 per cent and 6.60 per cent in the last 1 week and 2 weeks, respectively. In the last 1 month and 3 months, shares of the PSU company up by 9.90 per cent and 1.67 per cent, respectively. On a YTD basis, shares of the refinery and marketing company climbed by 42.49 per cent. In the past 1 year, 2 years, 3 years, 5 years and 10 years, shares of the oil company jumped by 78.71 per cent, 93.42 per cent, 39.64 per cent, 71.84 per cent, and 243.85 per cent, respectively.
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BPCL Dividend History
Last year, BPCL paid dividends on two occasions – Rs 4 and Rs 21 in August and December, respectively. In 2022, the oil company announced dividends of Rs 5 and Rs 6 with an ex-date on February 10 and August 19, respectively. In 2021, the company declared dividend of Rs 5 with an ex-date on November 11.
