BPCL is in focus today for two reasons, first, it will be reporting its quarter-ended March 31 numbers. And second, it will be announcing a dividend.

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The dividend is something that the street is watching out for because a lot of developments have happened and they have a lot of cash in their books.

In March, the company sold their stake in Numaligarh refinery for Rs 9,875 crore and treasury shares at Rs 5,525 crore. Then, they bought Oman Oil’s stake in the Bina refinery for a sum of Rs 2,400 crore.

They have also announced an interim dividend of Rs 5 per share. After all these transactions, the street was disappointed. Now they are expecting a higher dividend number to come through.

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(Edited by : Yashi Gupta)