Shares of Bharat Petroleum Corporation Ltd (BPCL) gained nearly 3% in early trade today, rising ₹10 to ₹350.75. This increase resulted in a significant market cap gain of ₹4,456.66 crore, bringing BPCL’s total market capitalization to ₹1,52,173.08 crore.
As of 10:07 AM, BPCL shares were trading at ₹350.75, with a 72.18 lakh share volume and a total traded value of ₹251.33 crore on the NSE. The stock reached a high of ₹351.50 and a low of ₹344.00 during today’s session. BPCL’s 52-week high is ₹376.00, and the 52-week low is ₹165.73.
The stock’s rise is attributed to stable crude oil prices, which have positively impacted refiners and marketers like BPCL, leading to increased investor confidence and a substantial market cap gain.
Oil Marketing Companies (OMCs) are experiencing gains this morning as crude oil prices fell by 2.5% overnight. The decline comes after OPEC revised its global demand estimates downward, projecting demand growth of 1.93 million barrels per day (mbpd) for 2024 and 1.65 mbpd for 2025.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
