BPCL Share Price: Dividend to boost stock rally by up to 15 pct; experts dub as a stock-to-buy-today

BPCL Share Price: Bharat Petroleum Corporation Limited (BPCL) is all set to announce a dividend after its scheduled Annual General Meeting (AGM) on 16th March 2021. Speculation is rife about the dividend being over 5 per cent benefiting both cash and Future & Option (F&O) segment traders, BPCL share price is expected to rise at least 15 per cent in the coming one month, says stock market experts.

Speaking on the BPCL share price target in next one month, Mudit Goel, Senior Research Analyst at SMC said, "Due to the corporate action expected tomorrow, BPCL shares have become one of the 'shares to buy today' options for both investors and traders. One can buy BPCL stock today for Rs 510 target in the next one month. However, while taking buy position in BPCL shares, one must maintain the stop loss at Rs 430." He said that for an immediate profit the BPCL share price target tomorrow would be around 2-3 per cent from today' level, which is at Rs 458 (at 9:41 AM, Date: 15th March 2021).

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Goel said that BPCL shares have first resistance at Rs 475 and second resistance at Rs 485. However, due to the dividend announcement these marks are expected to get broken in the expected rally that one can witness in today and tomorrow's trade session.

Elara Capital has also raised its BPCL share price target from Rs 467 to Rs 520 and said, "We raise our TP to Rs 520 from Rs 467 on higher marketing margin and lower FY22E net debt on cash from NRL and treasury stock sales."