Bharat Petroleum Corporation (BPCL) advanced 3.24% to Rs 425.20, rising for the sixth consecutive session.
Shares of BPCL jumped 9.78% in six trading sessions from a recent closing low of Rs 387.30 on Wednesday, 6 January 2021.
On the technical front, the stock's RSI (relative strength index) stood at 71.033. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day moving average (DMA) placed at 388.47 and its 200-day moving average (DMA) placed at 377.65.
BPCL reported 58.4% jump in consolidated net profit to Rs 2,589.52 crore on a 23.1% decline in net sales to Rs 49,408.60 crore in in Q2 FY21 over Q2 FY20.
BPCL operates in refinery and marketing activities, which includes downstream petroleum sector. The Government of India holds 52.98% stake in BPCL as of 30 September 2020.
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