Don’t miss action in this multibagger PSU stock that is likely to announce rights issue!
The stock gave 20 per cent in 1 year and since November 1, 1996, till date, the stock generated over 1,400 per cent return.
Bharat Petroleum Corporation Ltd, a PSU company and leading player in petroleum products informed that a meeting of the Board of Directors of the company will be held on Wednesday, June 28, 2023, interalia, to consider the various modalities for capital infusion including rights issue, for achieving energy transition, net zero and energy security objectives, subject to requisite approvals as required under applicable law.
Bharat Petroleum is an Indian state-controlled oil and gas company involved in the refining, marketing, and distribution of petroleum products. The shares of the company saw a spurt in volume by more than 1.07 times on BSE.
According to the Quarterly Results, the net sales increased by 8.10 per cent, and the net profit increased by 163.90 per cent in Q4FY23 over Q4FY22. The net sales increased by 23.34 per cent in FY23 over FY22. The company reported a net loss of Rs 60.87 crore in FY23 compared to a net profit of Rs 10,145.77 crore in FY22.
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Additionally, the company have declared a dividend of Rs 4 per equity share of the face value of Rs 10 each, for the financial year ended March 31, 2023.
On Tuesday, shares of BPCL plunged 3.74 per cent to Rs 359.50 per share with an intraday high of Rs 371.65 and an intraday low of Rs 358.30 per share.
The stock gave 20 per cent in 1 year and since November 1, 1996, till date, the stock generated over 1,400 per cent return. Investors should keep an eye on this multibagger Large-Cap stock.