BPCL Share Price: MASSIVE Breakout? Experts predict this target on disinvestment trigger; check critical levels here

BPCL Share Price: The Bharat Petroleum Corporation Limited (BPCL) has made a strong breakout that may lead to further upside movement in this PSU counter.

BPCL Share Price: According to stock market experts, BPCL shares are rising due to the privatisation news where the government is expected to generate at least Rs 80,000 crore. Photo: Reuters

BPCL Share Price: The Bharat Petroleum Corporation Limited (BPCL) has made a strong breakout that may lead to further upside movement in this PSU counter. According to stock market experts, BPCL shares are rising due to the privatisation news where the government is expected to generate at least Rs 80,000 crore. Experts said that if we equate divestment target of the company with current BPCL stock price, then the it is at attractive valuations and it can easily scale up to Rs 700 by September 2021.

Speaking on the recent breakout and immediate target of BPCL share price Mudit Goel, Senior Research Analyst at SMC said, "BPCL shares have made a strong breakout and one can buy BPCL share at current Rs 426.50 levels for the target of Rs 445 and Rs 462 in next one week time horizon."

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On BPCL share price target in long-term time horizon, Avinash Gorakshkar, Head of Equity Research at Profitmart Securities said, "The Government of India (GoI) has indicated that it would be generating at least Rs 80,000 crore from BPCL privatisation. They have also said that the BPCL divestment will be done by April to September 2021. If we equate Rs 80,000 crore with current BPCL valuation, then its share price would come at around Rs 700. So, keeping BPCL privatisation as the major trigger, one can buy BPCL shares for the target of Rs 700 in next two quarters." Gorakshkar said that BPCL dividend has also helped BPCL counter scale and make a breakout.

Advising stock market investors to maintain the strict stop loss Mudit Goel of SMC said that one must maintain the stop loss at Rs 415 while taking buy position in BPCL counter.

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