Bonus Shares 2024: 3 Gas & Petroleum PSUs Set To Reward Bonus Shares, Dividends Soon

3 Public sector undertakings (PSUs) operating in the sector of Gas & Petroleum will soon start offering bonus share to shareholders from June 21 till July 2, 2024. These PSUs are Bharat Petroleum Corporation, Hindustan Petroleum Corporation, and Oil India. All these three PSU have already announced record date for their bonus issues and yet to decide the record date for dividends.

Leading analysts Motilal Oswal, Yes Securities, and Prabhudas Lilladher have recommended buy call to HPCL, BPCL, and Oil India shares. Oil India offered highest returns of 142% in last 1-year while HPCL offered multibagger returns in last 2-years span, and BPCL gave return of 87% in last 2-years. Check key details below:

1. Bharat Petroleum Corporation Recommends 1:1 Bonus Share, Rs 21/Share Dividend: Last trading price of BPCL share on BSE is quoting Rs 600.10 per share. Bharat Petroleum Corporation shares offered return of 59% in last 6-months and 80% return in last 1-year. BPCL's market cap stood at Rs 1,30, 176.86 crore. The 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. Bharat Petroleum Corporation shares declined 8% in last 2-weeks, offered return of 33% year-to-date, surged 63% in last 1-year, and surged 87% in last 2-yers.

Board of BPCL declared 1:1 bonus share and set June 22, 2024 as the record date. Board of Directors of BPCL also announced a final dividend of Rs 21/- per equity share of the face value of Rs 10/- each (pre-bonus) which translates into final dividend of Rs.10.5/- per equity share of face value of Rs.10/- per equity share) (post-bonus), subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM). BPCL is yet to declare record date for dividend.

Should You Buy BPCL Shares? Yes Securities has given buy call to BPCL shares with target price of Rs 900 per share. According to the analyst, BPCL's strategic reduction in debt, annual capex of Rs 11,000 crore, and increased refining efficiency position it as a compelling investment, reflecting a positive outlook for sustained growth, to also be supported by the recent announcement of a 1:1 bonus issue.

2. HPCL Recommends Bonus Share, Dividend: Last trading price of HPCL share on BSE is Rs 523.55 per share with intraday gain of 1.56%. The 52-week high price of HPCL shares on BSE is Rs 594.70 per share and 52-week low price is Rs 239.25 per share, respectively. The company's market cap is Rs 74,268.10 crore. Hindustan Petroleum Corporation shares offered attractive return of 89% in last 1-year 31% year-to-date, and offered return of 127% in last 2-years. Board of HPCL recommended bonus share in the ratio of 1:2 and set June 21 as the record date. Shareholders will be eligible to receive 1 bonus share for every 2 shares held as on June 21.

HPCL also recommended attractive dividend of 16.50 per share on the face value of Rs 10/-- each for the FY 2023-24. Record date for dividend has been fixed as August 9, 2024.

Should You Buy HPCL Shares? Yes Securities Assigns Buy Call: Yes Securities has recommended buy call to HPCL share with target price of Rs 700. Motilal Oswal too has buy call on HPCL shares with target price of Rs 600 per share.

3. Oil India Declares Rs 3.75/Share Dividend, 1:2 Bonus Issue: Last trading price of Oil India share on BSE is Rs 614.95 per share. Its market capitalisation is Rs 66,685.50 crore. The 52-week high price of Oil India shares on BSE is Rs 682.20 per share and 52-week low price is Rs 240.65 per share, respectively. Oil India Oil India fell by 7% in last 2-weeks, gained 94% in last 6-months, and zoomed 142% in last 1-year. In last 3-years, Oil India stock offered return of 329%.

Board of Oil India declared 1:2 bonus share along with a final dividend of Rs 3.75 per share. The record date for 1:2 bonus share is July 2, 2024 and for dividend, the record date is yet to be declared.

PL Recommends Accumulate: Prabhudas Lilladher has recommended accumulate call with target price of 722 per share. According to the analyst, "The company expects production to reach 4mmt of oil and 5bcm of gas by FY26. If the company achieves this production target, FY26 EPS would come in at Rs73. However, on a conservative basis, we build in a 5% CAGR in oil and 10% CAGR in gas production over FY24-26E, resulting in EPS of Rs67.3. We maintain 'Accumulate' rating on better visibility of production growth, valuing the standalone business at 9x FY26 adj EPS and adding the value of investments to arrive at our TP of Rs722."

Disclaimer: The stocks have been picked from the brokerage reports of Prabhudas Lilladher, Yes Securities, Motilal Oswal. 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.