BPCL rises as crude oil prices decline

Bharat Petroleum Corporation (BPCL) shares increased 5.46 per cent to close the day at Rs 416.55, following a reduction in crude oil prices below $35 per barrel. Lower crude prices have helped oil marketing companies like BPCL which would gain through lower under-recoveries and higher realisations from petroleum product sales.

The stock made an intraday high of Rs 422.9 and a low of Rs 400 with trading volumes of 1.61 lakh shares (about 2.3 times higher than its two-week average). The scrip made a 52-week high of Rs 482.85 (February 19, 2008) and a low of Rs 206 (July 03, 2008).