BPCL board approves merger of Bharat Gas Resources Ltd with itself

The Board of Directors of Bharat Petroleum Corporation Limited (BPCL) at the meeting held on 17th December 2020 has accorded its 'in principle' approval for merger of Bharat Gas Resources Ltd Limited (a wholly owned subsidiary of BPCL) with BPCL subject to the approval of the competent authorities and completion of Regulatory and other requirements.

BGRL is engaged in the business of Natural Gas. The Authorised Equity Share capital of BGRL is Rs.2300 crore and current paid up capital is Rs.558.62 crore. During the financial year 2019-20, BGRL has recorded revenue from operations of Rs.273.35 crore.

Shares of BHARAT PETROLEUM CORPORATION LTD. was last trading in BSE at Rs.395.55 as compared to the previous close of Rs. 399.5. The total number of shares traded during the day was 194992 in over 3084 trades.

The stock hit an intraday high of Rs. 402.8 and intraday low of 394.5. The net turnover during the day was Rs. 77697132.

Source : Equity Bulls

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