BPCL Hits Fresh 52-Week High Today, 23 November 2023

Bharat Petroleum Corporation Ltd (BPCL) which is in the business of oil and gas has hit a fresh 52-week high today at Rs 413.45 amid an order allotted to Servotech Power Systems Ltd for manufacturing, supplying and installing 2649 AC EV chargers across India.

Stock Performance  

Yesterday BPCL stock closed at Rs 402. Today, it opened at Rs 404 and closed at Rs 411.20, marking a 2.29% increase. Today, shares of the company hit a fresh 52-week high at Rs 413.45 while its 52-week low stands at Rs 305.55. Presently, company holds a market capitalization of approximately Rs 89,200 crore. Over the past one year, shares of the company have provided staggering returns of 32.60% and in the same time frame, BSE Oil & Gas has decreased by 0.81% while BSE Energy has changed by 1.21%.

About the Order 

BPCL has allotted an order to the leading manufacturer of EV Charger, Servotech Power Systems Ltd for manufacturing, supplying and installing 2649 AC EV chargers across India, equipping petrol pumps in major Indian cities under the BPCL E-drive Project playing a key role in the widespread implementation of EV charging solutions. The range of EV chargers includes 3 kW and 7 kW for this project. The manufacturing and production of these AC chargers has already begun and the supply of the chargers will begin from December 15, 2023 and will be completed within three months.

About Servotech Power Systems & BPCL 

Servotech Power Systems is engaged in manufacturing LED lighting solutions, UPS systems, inverters and batteries. Now it has started to develop tech-enabled EV Charging solutions leveraging their over two decades of experience and expertise in the electronics space. The company offer an extensive range of AC and DC chargers which are compatible with different EVs and serve multiple applications such as commercial and domestic.

Bharat Petroleum Corporation is a public sector company which is engaged in the business of refining of crude oil and marketing petroleum products.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.