BPCL inches up on inking MoU with Tata Passenger Electric Mobility to setup chargers

Bharat Petroleum Corporation is currently trading at Rs. 470.80, up by 0.30 points or 0.06% from its previous closing of Rs. 470.50 on the BSE.

The scrip opened at Rs. 474.05 and has touched a high and low of Rs. 474.50 and Rs. 470.10 respectively. So far 348297 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 482.05 on 06-Dec-2023 and a 52 week low of Rs. 314.10 on 28-Feb-2023.

Last one week high and low of the scrip stood at Rs. 482.05 and Rs. 444.15 respectively. The current market cap of the company is Rs. 102117.57 crore.

The promoters holding in the company stood at 52.98%, while Institutions and Non-Institutions held 36.50% and 10.53% respectively. 

Bharat Petroleum Corporation (BPCL) and Tata Passenger Electric Mobility (TPEM) have signed a memorandum of understanding (MoU) to collaborate in establishing public charging stations across India. The collaboration will leverage BPCL’s widespread fuel stations network and TPEM’s insights from over 1.15 lakh Tata EVs on Indian road, to set up chargers at locations frequently visited by Tata EV owners. Additionally, BPCL will gather insights on charger usage to improve customer experience.

This agreement between TPEM and BPCL aims to improve the overall experience for EV owners across India. The two companies are also exploring the possibility of introducing a convenient payment system through a co-branded RFID card, making payment easier for Tata EV users and to encourage more people to adopt electric vehicles in the country.

BPCL boasts a nationwide network of over 21,000 Fuel Stations and is committed to a sustainable future by amalgamating strategy, investments, and environmental goals. BPCL aims to install 7,000 electric vehicle charging stations by next year. To alleviate electric vehicle owners’ range concerns, BPCL has initiated over 90 Electric Vehicle Fast Charging Highway Corridors across the nation, ensuring a fast-charging station approximately every 100 kilometers on both sides of major highways. These corridors span more than 30,000 kilometers across various highways, assuring enhanced EV convenience and accessibility.

BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.