BPCL up on govt oil bond issue

DALAL STREET SPIKES

Shares of Bharat Petroleum Corporation (BPCL) rose by 5.12 per cent to close the day at Rs 384.9 on reports that government has issued bonds worth Rs 22,000 crore to oil marketing companies to compensate for under-recoveries on the sale of oil products.

BPCL expects to receive around Rs 5330.76 crore as part of its share of under-recoveries from the government. The stock made an intraday high of Rs387.05 and a low of Rs 367. The stock witnessed two-fold increase in trading volumes to 4.38 lakh shares.