Don’t miss action in this multibagger PSU stock that announced rights issue!
The stock gave 23 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 held today, June 28, 2023, has approved the proposal for raising capital up to an amount not exceeding Rs 18,000 crore. This capital will be raised by way of the issue of equity shares on a rights issue basis to eligible equity shareholders of the Corporation as on the record date (to be notified subsequently),
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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Bharat Petroleum is an Indian state-controlled oil and gas company involved in the refining, marketing, and distribution of petroleum products. 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 surged 1.39 per cent to Rs 365.20 per share with an intraday high of Rs 366.75 and an intraday low of Rs 358.20 per share.
The stock gave 23 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.