BPCL Share Price: The government has reduced its stake in many companies including LIC. In such a situation, will the government sell BPCL in the coming days? On this question, Union Minister Hardeep Puri replied, “BPCL is Not For Sale”. Let us tell you, before this he had also rejected the discussions of reducing stake in the company in December 2023.
What did the Union Minister say?
The Union Minister has shared an excerpt from the conversation with NDTV on the social media platform ‘X’. He told that when he became Petroleum Minister, everyone he met in the world wanted to buy BPCL. Today the situation is that there was talk of selling BPCL as per the profit it is earning in a year. At that time the valuation of the company was estimated at Rs 1 lakh crore to Rs 1.2 lakh crore.
Amazing return of 2590% in 10 years, company is giving continuous dividend since 2010
The company had made a profit of Rs 19,000 crore
BPCL had made a profit of Rs 19,000 crore in the first half of the last financial year. The total profit of this government company from January to March 2024 has been Rs 4789.57 crore. The company’s profit in the third quarter was Rs 3397.30 crore. Let us tell you, during January to March 2024, the revenue of BPCL was Rs 1.16 lakh crore.
What are experts saying about the company’s shares?
According to the report of CNBC TV18, Kotak Institutional Equity has advised to sell this PSU stock. Brokerage Haush has set a target price of Rs 255. Which is much lower than the current price. On Friday, the price of BPCL was at Rs 306.35 with a rise of 1.16% at the time of market closing. Let us tell you, during the last 6 months, an increase of 55.90 percent was seen in the prices of shares of this company.
