Wednesday 13 September 2017
BPCL gets Maharatna status
The government of India (GoI) has conferred Bharat Petroleum Corporation Limited (BPCL) with Maharatna Status. Accordingly, BPCL is empowered to exercise the powers of a Maharatna company as governed by relevant guidelines issued by Department of Public Enterprises.
Following is the criteria for grant of Maharatna status: -
1. The company already has Navratna status.
2. Its listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations.
3. Average annual turnover of more than Rs 25,000 crore, during the last 3 years.
4. Average annual net worth of more than Rs 15,000 crore, during the last 3 years.
5. Average annual net profit after tax of more than Rs 5,000 crore, during the last 3 years. 6. The entity should have significant global presence/international operations.
BPCL has been trading in positive territory at Rs 520.75 per share, up by Rs 8.25 per share or 1.61% as of 0949 hours on Tuesday.
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