(MC)
Over the past one month, shares of Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation (IOCL), and Hindustan Petroleum Corporation Ltd (HPCL) have risen 10-16 percent and around 18-33 percent during the past three months.
IOCL said on July 4 that its board of directors is scheduled to meet on July 7 to consider fund raising through right issues to meet the capital expenditure plan for its various projects. Meanwhile, BPCL’s board of directors approved on June 28, a proposal for raising capital upto an amount not exceeding Rs 18,000 crore through rights issue. There is an expectation that HPCL will also come up with a proposal for an equity issue. The company is said to be looking at a preferential share allotment to the government.
