Rs 50,000 crore project: This PSU company gets approval for refinery expansion!

The stock gave 11.89 per cent in 6 months and down by 10.64 per cent in 1 year.

Bharat Petroleum Corporation Ltd informed that Minister-Council Committee on investment promotion has approved a petrochemical project worth Rs 50,000 crore and an investment of Rs 150 crore. Also, The Investment Promotion Committee has approved Bina Refinery of Bharat Petroleum Corporation Limited (BPCL) expansion of the refinery located in Bina Sagar division and the establishment of a petrochemical project by the refinery.   

With the establishment of this project, about two thousand youths will get employment in this project, which is likely to start by the financial year 2027-28. An important investment of Rs 150 crore was also approved by the Investment Promotion Council Committee, Narmadapuram District by M/s Inox Air Products Ltd.  

It also got an approval for an investment proposal of Rs 150 crore project in Mohasa-Babai industrial area. Since the inception of this project, world-class technology-based air suppression unit will produce 200 tonnes of cryogenic medical and industrial gas per day.  

Industrial Policy and Investment Promotion Minister Mr. Rajvardhan in a meeting said that establishment of both the projects will lead to economic and social development of the area due to employment of the youth.  

Bharat Petroleum Corporation is a public sector company which is engaged in the business of refining of crude oil and marketing of petroleum products.  

Talking about the financials, this PSU company has a market cap of Rs 72,000 crore. In the Quarterly Results and annual results, the company reported positive numbers.   

The stock gave 11.89 per cent in 6 months, down by 10.64 per cent in 1 year and since November 1, 1996 till date, the stock generated over 1,298 per cent return. Investors should keep an eye on this multibagger Large-Cap stock.