Bharat Petroleum Corporation (BPCL) share price gained in the early trade on December 26 after the company emerged as a lowest bidder for 150 MW solar PV power project of NTPC.
At 09:22am, Bharat Petroleum Corporation was quoting at Rs 296.10, up Rs 4.25, or 1.46 percent, on the BSE.
Upon finalization of the contract, the project will be developed over a two-year timeline at an estimated capital outlay of Rs 756.45 crore and is projected to generate annual revenue of approximately Rs 100 crore by producing around 400 million units of clean energy.
The company had participated in NTPC’s tender for the selection of solar power generators to establish 1200 MW ISTS-connected solar PV power projects across India.
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In another development the company board at its meeting held on December 24, has accorded its approval to commence pre project activities for setting up of a green field refinery cum petrochemical complex in East Coast at Andhra Pradesh at an estimated cost of Rs 6100 crore.
The pre project activities consists of various initial studies, land identification and acquisition, preparation of detailed feasibility report, environment impact assessment, basic design engineering package, front end engineering design etc.
Earlier in this month, the company and Coal India executed a non-binding memorandum of understanding (MoU) in Mumbai to explore setting up of coal to synthetic natural gas project at Western Coalfields Limited (WCL) through surface coal gasification.
BPCL reported a 72 percent year-on-year drop in consolidated net profit at Rs 2,297 crore for second quarter of financial year 2024-25, amid reduced refining margins and lower cracks. The state-run oil retailer had posted profit of Rs 8,243 crore in the same period last year.
Over the past year, BPCL shares have risen around 30 percent in trade, as compared to a 13 percent jump in the benchmark Nifty 50 index during the same time period.
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