BPCL gains 4%, hits 52-week high on strong Q4 results, Rs 58/share dividend

The progress on divestment and response by potential bidders will be the key monitorable for the stock price performance, ICICI Securities said

Shares of Bharat Petroleum Corporation Limited (BPCL) rose 4 per cent and hit a 52-week high of Rs 488 on the BSE in intra-day trade on Thursday after the state-owned oil marketing company's board recommended a final dividend of Rs 58 per equity share, including one-time special dividend of Rs 35 per equity share of Rs 10 each, for the financial year ended March 31, 2021, subject to the approval of the shareholders.

In the past one month, the stock has outperformed the market by gaining 15 per cent, as compared to 5.5 per cent rise in the S&P