Shares of the Bharat Petroleum Corporation soared 13.57% in six trading sessions from its recent closing low of Rs 324.40 on 19 September 2024.
On the BSE, 15.97 lakh shares were traded in the counter so far compared with average daily volumes of 4.59 lakh shares in the past two weeks. The stock hit a high of Rs 370.5 and a low of Rs 346.3 so far during the day.
The stock hit a 52-week high of Rs 370.5 on 27 September 2024. The stock hit a 52-week low of Rs 165.75 on 26 October 2023.
The stock had outperformed the market over the past one month, up 5.57% compared with 4.76% fall in the Sensex.
The scrip outperformed the market in past one quarter, up 20.98% as against Sensex's 8.03% rise.
The scrip had also outperformed the market in past one year, soared 111.08% as against Sensex's 29.47% rise.
On the technical front, the stock's daily RSI (relative strength index) stood at 68.093. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
On the daily chart, the stock was trading above its 50 day, 100-day and 200-day simple moving average (SMA) placed at 340.75, 324.69 and 300.99, respectively. These levels will act as crucial support zones in near term.
Bharat Petroleum Corporation (BPCL) is the second largest Indian oil marketing company (OMC), engaged in refining of crude oil and marketing of petroleum products, with a significant presence in the upstream and downstream sectors of the oil and gas industry. The company attained the coveted 'Maharatna' status, joining the elite club of companies having greater operational & financial autonomy. The Government of India holds 52.98% stake in BPCL as of 30 June 2024.
The company’s standalone net profit tumbled 71.42% to Rs 3,014.77 crore in Q1 FY25 as against Rs 10,550.88 crore posted in Q1 FY24. Net sales (excluding excise duty) rose marginally to Rs 1,13,096.01 crore in the June quarter from Rs 1,12,978.23 crore recorded in the corresponding quarter previous year.