BPCL shares rally 7%, hits new 52-week high amid heavy volumes
Bharat Petroleum Corporation (BPCL) soared approximately 7%, reaching a new all-time high of Rs 370.50 on the BSE and the NSE, amid strong trading volumes in the stock.
Throughout the day, nearly 3 crore shares exchanged hands on both the exchanges combined and the company’s total market capitalisation stands at Rs 1.6 lakh crore.
The shares of BPCL have given multibagger returns of 110.6% in the last one year while in the current calendar year so far, the stock has increased by 62.7%. According to the BSE analytics, the stock has gained 23.5% and 20.7% in the last 6 months and 3 months, respectively.
On the technical front, the stock is well placed above all its significant short, medium and long-term exponential moving averages (10, 20, 50, 100 as well as 200 DEMA).
Further, the share price is oscillating near the 54 level on the relative strength indicator (RSI), which is a mid-level mark on the indicator. On the RSI, a level below 30 is considered oversold, while above 70 indicates overbought conditions.
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