DERIVATIVES FUTURE: SELL BPCL

FUTURE

July 20, 2021
By BIPRO HALDAR
77 Views 262 comments

Bharat Petroleum Corporation Limited (BPCL) is an Indian government-owned oil and gas corporation. It is under the ownership of Ministry of Petroleum and Natural Gas, Government of India, headquartered in Mumbai, Maharashtra. It operates two large refineries in Kochi and Mumbai.^[5] India’s second-largest downstream oil company, it was ranked 309th on the 2020 Fortune list of the world’s biggest corporations,^[6] and 792nd on Forbes’s 2021 “Global 2000” list.^[7] The company today known as BPCL started off as Rangoon Oil and Exploration company set up to explore the new discoveries off Assam and Burma during the British colonial rule of India. In 1889 during vast industrial development, an important player in the South Asian market was the Burmah Oil Company. Though incorporated in Scotland in 1886, the company grew out of the enterprises of the Chef Rohit Oil Company, which had been formed in 1871 to refine crude oil produced from primitive hand dug wells in Upper Burma . In 1928, Asiatic Petroleum Company (India) started cooperation with Burma oil company. Asiatic Petroleum was a joint venture of Royal Dutch, Shell and Rothschilds formed to address the monopoly of John D Rockefeller’s Standard Oil, which also operated in India as Esso. Indraprastha Gas Limited (IGL), a joint venture between Gas Authority of India Limited (GAIL), Bharat Petroleum Corporation Limited (BPCL) and the Government of Delhi to operate the Delhi City Gas Distribution Project. Petronet LNG, a joint venture company promoted by the Gas Authority of India Limited (GAIL), Oil and Natural Gas Corporation Limited (ONGC), Indian Oil Corporation Limited (IOC) and Bharat Petroleum Corporation Limited (BPCL) to import LNG and set up LNG terminals in the country. Bharat Renewable Energy Limited, a joint venture company promoted by BPCL with Nandan Cleantech Limited (Nandan Biomatrix Limited), Hyderabad and Shapoorji Pallonji Group, through their affiliate, S.P. Agri Management Services Pvt.Ltd. specializes in offering Bio diesel plants, ethanol, bio-diesel plants, Karanj (Millettia pinnata), Jatropha and Pongamia (Pongamia Pinnata) plantation services, renewable generation services etc. In 2013 Shapoorji Pallonji Group exited the joint venture.^[19]

Script Name –BPCL

Sell Price –BELOW 451

Profit Target-448.50/446

Stop Loss-454

Call Duration-DELIVERY

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