2 Maharatna PSUs Set For Dividend, Bonus Announcement On May 9: Should You Buy?

Board of Directors of two leading large cap Maharatna public sector undertakings are geared up for big announcement tomorrow (May 9, 2024). These 2 PSUs are Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL). HPCL share offered highly attractive returns of 109% in last 1-year while BPCL Share too gained 62% in last 6-months span. Current market price of HPCL share on BSE is Rs 528.50 with intraday gain of 2.77% and today's market price of BPCL Shares is Rs 621.30 per share with intraday rally of 2.86% at the time of writing the story (12:53 pm). It is worth mentioning that Life Insurance Corporation Of India (LIC) has 4.13% stake with 58,629,348 shares and Sbi Life Insurance Co. Ltd has 1.04% stake with 14,699,977 shares of HPCL. BPCL offers a dividend yield of 4.02% while HPCL has a dividend yield of 2.87%. More details below:

1. Hindustan Petroleum Corporation To Consider Results, Dividend, Bonus Share: According to the BSE filing of the company dated May 6, 2024, "We refer to our earlier letter Ref: Co.Secy/VM/107/2024 dated April 24, 2024 intimating holding of Board Meeting for consideration and approval of Audited Financial Results (Standalone & Consolidated) of the Company for the Financial Year ended March 31, 2024 and recommendation of Final Equity Dividend, if any, for the Financial Year 2023-2024. We now write to inform that in the aforesaid meeting, the Board will also consider a proposal for recommendation of Bonus Equity Share subject to the approval of Members of the Company including fixation of Record Date for the said Bonus Issue."

Hindustan Petroleum Corporation Share Performance: 52-week high price of Hindustan Petroleum Corporation shares on BSE is quoted at Rs 594.45 per share (as on 16/02/2024) and 52-week low price is Rs 239.25 per share (as on 26/10/2023), respectively. Its market capitalisation is Rs 74,913.54 crore. HPCL shares jumped 14% in last 1-month, rallied 32% YTD, soared 76% in last 6-months only, and offered return of 108% in last 1-years, rose 109% in last 3-years, and surged 580% in last 10-years. HPCL has a PE of 4.97 and EPS (TTM) of 10.73. ROE is 38.41.

Motilal Oswal Gives Buy Call To HPCL Share: Motilal Oswal appears upbeat on HPCL shares and suggested traders to buy the stock with target price of Rs 590 per share.

About: HPCL is one of the largest integrated Public Sector Undertaking, engaged in the business of refining Crude Oil and marketing of various petroleum products like Asphalt, Diesel, Kerosene, LPG, Lube Oils, Petrol, branded products like ATF (Aviation Turbine Fuel), Power, Turbojet, Naphtha, throughout India and at select foreign countries. Some of these products are exported to other countries. Hindustan Petroleum Corporation Limited is a Maharatna CPSU and (HPCL) is a Government Company within the meaning of Section 617 of the Companies Act 1956.

2. Bharat Petroleum Corporation To Consider Bonus Share On May 9: As per the BSE filing of the company May 6, "This is further to our intimation dated 30th April 2024 regarding the meeting of Board of Directors of Bharat Petroleum Corporation Limited scheduled on Thursday, 9th May 2024 inter-alia, to consider and approve the financial results for the quarter and financial year ended 31st March 2024 and also to consider recommendation of final dividend, if any, for the financial year 2023-24. Pursuant to Regulation 29(1) & 29(2) of SEBI (Listing Obligations & Disclosure Requirements), Regulations 2015, it is hereby informed that the Board of Directors of the Company may consider issue of Bonus Shares in the aforesaid Board Meeting."

Angel One Recommends Buy Call For BPCL Share? Sneha Seth, Derivatives Research Analyst, Angel One has assigned buy rating for Bharat Petroleum Corporation (BPCL) with a stop loss of Rs 585 and a target price of Rs 640 on the upside.

BPCL Share Performance & Return Over Years: 52-week high price of Bharat Petroleum Corporation share on BSE is quoted at Rs 687.65 per share (as on 16/02/2024) and 52-week low price is Rs 331.50 per share (as on 26/10/2023), respectively. The PSU has a market cap of Rs 1,35,198.68 crore. Bharat Petroleum Corporation shares soared 37% YTD, rallied 62% in last 6-months, rose 69% in last 1-year, surged 69% in last 2-years, and jumped 36% in last 3-years.

Bharat Petroleum Corporation About: BPCL, a Maharatna PSU, aims to efficiently meet the energy needs of our nation with a combined refining capacity of over 40 MMT through refineries in Mumbai, Kochi, Numaligarh and Bina, which are strategically located. One of the best in class & digitally enabled refineries with state-of-the-art technology, efficient operations and high standards of quality, safety, occupational health, environment protection and security.

Disclaimer:

The stocks have been picked from the brokerage reports of Motilal Oswal and Angel One. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.