HomeTech newsBharat Petroleum's disinvestment may accelerate, LIC increased stake in the company by...

Bharat Petroleum’s disinvestment may accelerate, LIC increased stake in the company by 2 percent

Life Insurance Corporation of India Share Price Target 2022: Indians have tremendous faith in the insurance company Life Insurance Corporation of India (LIC) across the country. Let us tell you that LIC has acquired more than 2 percent stake in the government company Bharat Petroleum Corporation Limited (BPCL) earlier this week.

how many shares
It is known that 19,61,15,164 shares of BPCL have reached LIC. Earlier the insurance company had 15,25,08,269 shares of the government refinery company. LIC said in its regulatory filing that its stake in the state-owned company BPCL has now increased to 9.047 percent, which was 7.03 percent earlier.

what price to buy shares
Let us tell you that the market capitalization of BPCL has reached Rs 67301 crore. The company is engaged in the refining of crude oil and marketing of petroleum products. LIC says that in the period from 28 December 2021 to 26 September 2022, the company has increased its stake in BPCL by more than 2 percent. The insurance company has bought these shares from the open market at an average cost of Rs 336.43 per share. As per norms of market regulator SEBI, listed companies are required to disclose shareholding of more than 2 per cent.

BPCL shares gave 1200 percent return
LIC shares closed at Rs 621 on 28 September 2022, down 1.17 percent on the Bombay Stock Exchange (BSE). At the same time, the shares of Bharat Petroleum Corporation closed at Rs 306, down 1.50 percent. The shares of BPCL have given returns of more than 1200 percent to the people since November 1, 1996. At the same time, in the last 1 year, the shares of BPCL have fallen by about 28 percent. The company’s shares have fallen about 20 percent this year.

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