Stock market today: BPCL share price trades positive ahead of Q3 results today. Buy or wait?

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Stock market today: Bharat Petroleum Corporation Limited (BPCL) is going to declare its Q3 results today. Therefore, BPCL share price is expected to remain under the radar of stock market observers and investors. Despite weak set of numbers expected by the market, BPCL share price today opened flat but soon gathered bulls' attention during morning deals on Monday.

BPCL share price today opened lower but witnessed buying interest at the lower levels and went on to touch an intraday high of ₹480.25 apiece on NSE, loggin an intraday gain of around 1.25 per cent during morning deals. Also Read: GAIL share price in focus ahead of Q3 result; should you buy the stock for short term? According to stock market experts, BPCL may report weak numbers in Q3 results today due to decline in refining and marketing margins. However, they said that in case of any poositive surprise in BPCL Q3 results 2024, the stock may go up to ₹550 apiece levels.

They advised BPCL shareholders to hold the stock with stop loss at ₹460 while asked fresh investors to wait for the BPCL results. On the expected BPCL results for Q3FY24, Shreyansh V Shah, Research Analyst at StoxBox said, "The state-run oil marketing company BPCL is expected to come out with a weak set of numbers in Q3FY24. This can be primarily attributed to a decline in refining and marketing margins, accompanied by inventory loss due to a drop in crude prices during the quarter.