|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||415.60 - 433.00|
|52-week range||252.00 - 549.00|
|Beta (5Y monthly)||1.05|
|PE ratio (TTM)||27.64|
|Forward dividend & yield||24.50 (5.84%)|
|1y target est||349.69|
India's finance ministry said Wednesday it had extended the deadline for submission of bids for the sale of its stake in oil refiner Bharat Petroleum Corp Ltd <BPCL.NS> to Sept. 30, allowing more time for interested parties. India has the world's third-highest caseload of coronavirus infections after the United States and Brazil, and a strict lockdown imposed in March has been eased in parts in recent weeks but economic activity is far from a full restart. The government's move to sell its 52.98% stake in Bharat Petroleum, the country's second-biggest oil refiner, could help it bridge its widening fiscal gap.
Indian refiners are cutting crude processing and shutting units for maintenance as local fuel demand falls and global refining margins are weak, officials at the companies said. Fuel demand in Asia's third largest economy had been rising since May from historic lows in April, when a nation-wide lockdown to stem the spread of the novel coronavirus was enforced. In July, however, local demand growth has slowed because of high fuel prices, renewed lockdown in parts of the country and as monsoon rains hit transport, industrial and construction activity.
Bharat Petroleum Corp plans to restart a 200,000 barrels per day (bpd) crude unit at its 310,000 bpd Kochi refinery in southern India by end of this month after a three-week maintenance shutdown, its head of refineries said. The shutdown of the crude unit and some secondary units at Kochi started earlier this month after the company restarted a 156,000 bpd crude unit at its Bina refinery in central India, R. Ramachandran told Reuters. State-run BPCL, the country's second biggest state refiner, had shut the crude unit at the Bina refinery for about three weeks from the second week of June for routine maintenance, he said.