Bharat Petroleum Share Price Live: Bharat Petroleum Shares Fall by 2.80% as Nirmala Sitharaman Presents Union Budget 2019​

Bharat Petroleum Shares open at 380.25. The stocks fell by 2.80 percent ahead of the Union Budget. The stock closed at 369.35.

Last month, Bharat Petroleum Corp. Ltd (BPCL), Indian Oil Corp. Ltd (Indian Oil), and Hindustan Petroleum Corp. Ltd (HPCL) signed an agreement for formation of a joint venture (JV) company for implementation and subsequent operation of 2,757km long LPG pipeline from Kandla to Gorakhpur. BPCL, Indian Oil and HPCL would have 25%, 50% and 25% equity holding respectively in the JV.

The pipeline is expected to provide reliability in the supply chain of LPG. Besides economic benefits as compared to road transportation, movement of LPG by pipelines shall enhance safety as well.

BPCL is into exploration, production and retailing of petroleum and petrol-related products in India. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.

The BSE group ‘A’ stock of face value Rs 10 has touched a 52-week high of Rs 428.80 on 22 June 2018 and a 52-week low of Rs 239 on 5 October 2018.

BPCL shares have hardly moved in the last one year, rising nearly 2% compared with a 12% increase in the benchmark Nifty 50 index.

The promoter holding in the company stood at 53.29%, while Institutions and Non-Institutions held 31.82% and 14.88%, respectively.