BPCL shares rally 10% intraday on global oil companies’ interest in stake buying

Shares of Bharat Petroleum Corporation (BPCL) surged 10 per cent to Rs 480.80 in intraday trade on Tuesday amid the report that global oil majors are showing interest in buying a stake in the state-owned oil marketing company. The stock has rallied over 29 per cent in the last five sessions from Rs 377.7 on July 14.

On Tuesday, BPCL shares opened higher at Rs 439.90 apiece against previous closing price of Rs 437.10 on the Bombay Stock Exchange (BSE). The stock gained as much as 9.99 per cent to hit an intraday high of Rs 480.80. Paring some of early gains, the stock settled 6.09 per cent higher at Rs 463.70.

On the volume front, there was surge in volume trade as 17.51 lakh shares changed hands over the counter as compared to two-week average volume of 5.45 lakh shares.

In a similar fashion, share price of BPCL ended at Rs 461.05 apiece, up 5.43 per cent, on the National Stock Exchange (NSE). During the day’s trade, the stock hit an intraday high and low of Rs 481 and Rs 435.40, respectively.

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