Bharat Petroleum Corporation Ltd (BPCL) posted its latest shareholding data on Friday.
What Happened: As per the filing, the company saw mutual fund holding go up to 10.90% in the September quarter. Mutual funds held a 9.56% stake in the company at the end of the June quarter.
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Foreign institutional investors also raised their stake in the company during the July-September quarter. FIIs currently hold a 15.40% stake in the company, up from the 15.03% reported at the end of June.
Shares of the PSU have been under pressure owing to the volatility in Brent crude oil prices. BPCL, Hindustan Petroleum Corporation Ltd (HPCL), and Indian Oil Corporation Ltd (IOCL) have all been facing the heat at the bourses.
Price Action: BPCL’s share price was up 0.52% to trade at ₹337.20 on Friday afternoon. Share of the oil marketing company has gone up around 50% since the start of the year.
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