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Bharat Petroleum Corporation Limited, a state-controlled oil and gas company is to raise Rs 2000 crore in debt in the current fiscal ending March 31. The company will do it for funding its capex requirements.
- The company's shareholders have approved private placement of Non-Convertible Debentures/ Debentures and/ or Other Debt Securities.
- The debentures are proposed to be listed on the BSE and NSE. Also the company in the previous month has raised USD 600 million by selling to investors in Asia and Europe the 10-year dollar bonds.
- The company's Singapore arm, BPRL International Singapore Pte. Ltd., raised the money at 200 basis points which is above the 10-year US treasury and came to 4.37%.
- The Mumbai based company, Bharat Petroleum Corporation Limited, operates two large refineries of the country located at Mumbai and Kochi.
- The Mumbai refinery is having a capacity of 13 million metric tonne per year; and the Kochi refinery is having a capacity of 9.5 million metric tonne per year.
Stock view:-
- Bharat Petroleum Corporation Ltd ended at Rs 679.35, up by Rs 9.05 or 1.35% from its previous closing of Rs 670.3 on the BSE.
- The scrip opened at Rs 671.7 and touched a high and low of Rs 683.55 and Rs 665.25 respectively. A total of 2057035(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 98245.46 crore.
- The BSE group 'A' stock of face value Rs 10 touched a 52 week high of Rs 735 on 10-Feb-2017 and a 52 week low of Rs 366.1 on 23-Feb-2016. Last one week high and low of the scrip stood at Rs 723 and Rs 663.5 respectively.
- The promoters holding in the company stood at 54.93 % while Institutions and Non-Institutions held 30.19 % and 14.88 % respectively.
- The stock traded above its 50 DMA.
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