BPCL Share Declines Nearly 3% Intraday; State-Run Refiner to Acquire 40% Stake in Tiki Tar and Shell India for Rs 85 Crore

Mumbai, June 29: Shares of Bharat Petroleum Corporation (NSE: BPCL) were trading down Rs 8.95 or 2.89% at Rs 300.80 in Monday’s session in Mumbai, with the VWAP for the day at Rs 301.87, as the state-run oil refiner and fuel retailer came under selling pressure through the session coinciding with its announcement of a Rs 85 crore equity stake acquisition in bitumen products maker Tiki Tar and Shell India Pvt Ltd. 

BPCL opened at Rs 308.70, briefly touched a session high of Rs 309.00 in the opening minutes, then trended sharply lower through the morning before stabilising between Rs 300.00 and Rs 304.00 for much of the afternoon. The intraday low came in at Rs 299.75, against a previous close of Rs 309.75. Check out the intraday chart below. 

BPCL Order Book 

Order book data on BPCL was not available at the time of this report, with bid, ask, and total quantity figures showing as dashes on the exchange platform. The intraday price chart, however, reflects a session characterised by an early high near Rs 309.00 followed by a sustained decline toward the Rs 300 mark, with the stock drifting in a narrow range near session lows through the latter half of trade. 

BPCL Weekly Chart 

BPCL’s weekly chart shows the stock opened the week of June 22 at around Rs 308.00, held broadly flat through June 23 near Rs 308.50, then climbed sharply to a weekly high near Rs 315.00 on June 24 before retreating into Friday’s close around Rs 309.75. 

Monday’s decline has erased the bulk of last week’s gains, with the stock retracing to the Rs 300 area and testing lows not seen since the start of the prior week. The week-over-week trajectory suggests the counter remains sensitive to broader sentiment on state-run energy names and crude oil price movements. 

BPCL to Acquire 40% Stake in Tiki Tar and Shell India for Rs 85 Crore 

State-run Bharat Petroleum Corporation on Monday said it will acquire a 40% equity stake in Tiki Tar and Shell India Pvt Ltd (TTSIPL) for Rs 85 crore in cash, as it seeks to expand its presence in India’s fast-growing value-added bitumen market, the Press Trust of India reported. The acquisition has received approval from the Department of Investment and Public Asset Management (DIPAM) and is expected to be completed within 90 days. The transaction is not a related-party deal. 

Incorporated in October 2019, TTSIPL manufactures and markets bitumen and bituminous products used in highways and airport runways. Its portfolio includes VG Grade Bitumen, Polymer Modified Bitumen (PMB), Crumb Rubber Modified Bitumen (CRMB), and emulsions. The company also exports to Nepal, Bhutan and Bangladesh. BPCL said the investment aligns with its strategy to tap growing demand for value-added bitumen driven by India’s infrastructure expansion, PTI reported. 

TTSIPL reported a revenue of Rs 404.6 crore in FY26, compared to Rs 545.2 crore in FY25 and Rs 317.8 crore in FY24. The company has an authorised share capital of Rs 37 crore and a paid-up capital of approximately Rs 36.1 crore. 

Source: https://www.nseindia.com/get-quote/equity/BPCL/Bharat-Petroleum-Corporation-Limited