The second largest downstream oil producer in India, Bharat Petroleum Corporation Ltd (BPL), is a public limited company owned by the Government of India (GOI). It is ranked 309th in the list of World's Biggest Public Sector Undertaking (PSU) in 2020. BPCL Share Price Target 2024 was established in 1976 and its refineries are located in Bina (India), Kochi (India), and Mumbai (India). The refinery capacity is 40 million metric tons (MMT) and its head office is located in Mumbai (Maharashtra).
The share price of Bharat Petroleum Corporation limited (BPL) has increased by 28 per cent since January 12, 2024. It is expected to maintain this positive trend in the coming years. However, the Oil & gas sector Company will find it more difficult to sustain its current business growth rate due to the shift towards renewable energy sources across the world. In this article, we will guide you through the upcoming years of the BPCL share price target to help you decide whether to invest your hard earned money in the Hindustan aeronautics share price.
BPCL Latest News
The Liquefied petroleum gas (LPG) carrier Bharat Petroleum Corporation Limited (BPCL) has recently launched its 'Pure for Use' LPG Initiative, which includes a QR code to reduce last-mile inefficiencies in delivery and enhance customer satisfaction.
BPCL Share Price Target 2025 has entered into an agreement with the Mozambique Liquefied Natural Gas (LNG) project to supply 1 million tones of LNG in the near future.
The NSE stock of BPCL has risen to a one year high after the carrier reported an 82% profit growth in Q3 FY24 to Rs 3,181.42 crore.
In September-October 2023, the carrier shut down its refinery in Kochi, which produced 4.5 million tons of LNG per year.
The carrier has also announced that it will supply 0.43 million standard cubic meters per day (MMSCMD) of RLNG, which is a repacified liquid natural gas.
Recently, the carrier launched India’s alkaline electrolyze, the first of its kind in the country, at India’s largest alkaline electrolyze expiry season (India Week 2024).
BPCL LTD Competitors (Market Cap: 133,257.20 crores INR)
IOC (Market Cap: 257,712.60 crores INR)
Hindustan Petroleum (Market Cap: 72,374.34 crores INR)
MRPL (Market Cap: 33,229.27 crores INR)
Chennai Petro (Market Cap: 13,300.02 crores INR)
Gandhar Oil (Market Cap: 2,368.94 crores INR)
Points to consider before investing in BPCL NSE Stock
BPCL recently reported an 82% year-on-year (YoY) increase in profit to Rs 3.181.42 crore in Q3FY20 as compared to Q3FY19.
In Q3FY20, the company's revenue decreased to Rs 1.29,974.84 crore from Rs 1.33,346.51 crore in the previous quarter.
BPCL is India's 2nd largest oil company and has a strong infrastructure, which gives it an advantage in dealing with market volatility.
The Government of India recently called off its disinvestment plans for BPCL, but it is likely to happen in the next one to two years.
Privatization of BPCL Share Price Target 2030 will provide the company with new opportunities in terms of taking and implementing new ideas and entering into new business opportunities globally.
Since it is an O&G corporation, BPCL faces a huge risk in the long term as the world has suddenly started shifting towards renewable energy, battery electric vehicles (BEVs) and their charging infrastructure.
Therefore, BPCL Share Price Target face a huge competition to install charging infrastructure in the near future, with TATA and Adani, Reliance, and a few new big startups like Ola, Athar, etc.
Conclusion
Since 1st March 2019, BPCL stock has gained 87%. However, it has gained only 83% since 1st February 2023. This indicates that the stock price of BPCL on the Indian stock exchange has not been able to improve its trend for several years.
However, in the past six months, BPCL's stock price has increased +71% on the stock market. Moreover, it has gained +33% since 1st January 2024.
It is important for an investor to do proper research on the company's weaknesses and strengths before making an investment.
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