BPCL share price rises 2% after inking multiple MoUs with various entities

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Bharat Petroleum Corporation (BPCL) shares gained 1.6 per cent in trade on BSE, logging an intraday high at Rs 266.35 per share. The stock was also among the top winners on Nifty50. The stock gained after the company partnered with various companies for different projects. 

 

Around 9:40 AM, BPCL share price was up 1.3 per cent at Rs 265.55 per share on BSE. In comparison, the BSE Sensex was down 0.09 per cent at 75,231.84. The market capitalisation of the company stood at Rs 1,15,208.05 crore. The 52-week high of the stock was at Rs 376 per share and the 52-week low was at Rs 234.15 per share.  ALSO READ | Stock Market LIVE Updates: Sensex, Nifty trade flat; Nifty IT drags 2%; Metal, PSB lead; SMIDs gain

 

BPCL partners with BluJ Aerospace, ANERT, and CIAL

 

The company has entered into a quadripartite Memorandum of Understanding (MoU) with BluJ Aerospace, the Agency for New and Renewable Energy Research and Technology (ANERT), the Government of Kerala, and Cochin International Airport Limited (CIAL) to develop the first hydrogen-fueled vertical take-off and landing (VTOL) aircraft ecosystem globally.

 

In its crucial role, BPCL will establish hydrogen refuelling infrastructure for VTOL aircraft developed by BluJ Aerospace via its forthcoming Hydrogen Refueling Stations (HRS) in Kochi and Trivandrum. 

 

BPCL collaborates with KPIT Technologies

 

The company has inked an MoU with KPIT Technologies to promote hydrogen-based mobility initiatives in Kerala. This initiative, part of the National Green Hydrogen Mission, involves the establishment of Hydrogen Refuelling Stations (HRS) in Kochi and Trivandrum to support pilot mobility projects between the two cities, paving the way for safe and sustainable hydrogen-powered public transport.  ALSO READ | Metal stocks shine: SAIL, JSW Steel rally up to 5% on 12% safeguard duty 

 

BPCL launches "Emerge" cohort  

The company also launched the 'Emerge' cohort under the BPCL Ankur Fund to support startups in Energy Efficiency and City Gas Distribution (CGD). 

 

With the launch of the 'Emerge' cohort, BPCL through its ‘BPCL Ankur Fund’ aims to make investments in startups that have developed a Proof of Concept (PoC)/ prototype/ Minimum Viable Product (MVP), or fully implemented solution in the oil & gas sector or any other industry and are now ready to expand into oil & gas.   ALSO READ | Super Iron Foundry shares list flat on BSE SME, miss GMP estimates

 

Since its inception in 2016, BPCL through its startup initiative ‘Ankur’ has supported 30 startups with grants amounting to approximately ₹28 crores.

 

In the past one year, BPCL shares have lost 6 per cent against Sensex's rise of 4.5 per cent.