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Bharat Petroleum Corporation Ltd., incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 82420.76 Crore) operating in Gas & Petroleum sector.

The government has further increased budgetary allocation for vaccination program, which will help companies such as Serum Institute, Dr Reddy’s, Gland Pharma, and others. Moreover, there is increased support for the Ayushman Bharat program, which will help healthcare companies going forward.

In the spot market, the highest purity gold was sold at Rs 48,085 per 10 grams while silver was priced at Rs 61,430 per kg on Wednesday, according to the Indian Bullion and Jewellers Association.

Among Sensex names, Bajaj Finance declined 1.47 per cent to Rs 7,140. HDFC dropped 1.45 per cent to Rs 2,574. Infosys, Tech Mahindra, HCL Tech and Bajaj Finserv shed over 1 per cent each.

Promoters held 74.36 per cent stake in the company as of 31-Dec-2021, while FII and DII ownership stood at 16.46 per cent and 2.63 per cent, respectively.

"Our most important task is tackling inflation," Michigan State University economics professor Lisa Cook, one of three Fed nominees up for a confirmation hearing at the U.S. Senate on Thursday, said in her prepared remarks.

The stock traded at a P/E multiple of -3808.63, while the price-to-book value ratio stood at 4.24.

On a standalone basis, net profit stood at Rs 894 crore in October-December as against a net loss of Rs 274 crore the same period a year ago. Sequentially, the standalone net profit was down by 13 per cent from Rs 1,023 crore in July-September, reports said.

The company reported an increase in revenue to $4.78 billion from $4.18 billion in the same quarter last year.

Earlier, a media report suggested that billionaire Anil Agarwal was considering a potential merger of his commodity empire’s indebted holding company with cash-rich listed unit Vedanta.