Rs 52,731 crore projects: Shares of this PSU company soar as massive capex gets green light!
The stock gave 21.50 per cent in 6 months, up by 8 per cent in 1 year and since November 1, 1996 till date the stock has generated over 1,769 per cent return.
Bharat Petroleum Corporation Ltd gives the green light for a massive capex of Rs 52,731; details below:
1) Ethylene Cracker Project at Bina Refinery including downstream Petrochemical Plants and expansion of Refinery at a gross capital expenditure of approx. Rs 49,000 crore.
2) Setting up two 50 MW Wind power plants for captive consumption, one at Madhya Pradesh for captive consumption of Bina Refinery and another at Maharashtra for captive consumption of Mumbai Refinery, at a gross capital expenditure of approx. Rs 978 crore (Rs 489 crore for each project).
3) Putting up Petroleum Oil Lubricants (POL) and Lube Oil Base Stock (LOBS) installations with receipt pipelines at Rasayani in Maharashtra at a gross capital expenditure of approx. Rs 2,753 crore.
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On Wednesday, shares of BPCL zoomed 0.66 per cent to Rs 364.70 per share from its previous closing of Rs 362.30 with an intraday high of Rs 369.50 and an intraday low of Rs 364. The stock is close to its 52-week high of Rs 374.85 and has a 52-week low of Rs 288.20.
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 1.70 times on BSE.
Talking about the financials, this PSU company has a market cap of over Rs 79,000 crore. In the Quarterly Results and annual results, the company reported positive numbers.
The stock gave 21.50 per cent in 6 months, up by 8 per cent in 1 year and since November 1, 1996 till date the stock has generated over 1,769 per cent return. Investors should keep an eye on this multibagger large-cap stock.