19 Mar 2025

BPCL Shares Rise, Signs MoU for Hydrogen-Powered VTOL Aircraft Ecosystem

Bharat Petroleum Corporation (BPCL) is currently trading at RS. 265.85, up by 3.70 points or 1.41% from its previous closing of RS. 262.15 on the BSE.

The stock opened at RS. 263.80 and recorded a high of RS. 266.35 and a low of RS. 263.00. A total of 50,229 shares have been traded so far.

BPCL, a BSE group 'A' stock with a face value of RS. 10, reached a 52-week high of RS. 376.00 on September 30, 2024, and a 52-week low of RS. 234.15 on March 3, 2025. Over the last week, the stock's high and low were RS. 266.95 and RS. 258.40, respectively. The company's current market capitalization stands at RS. 114882.66 crore.

The company's shareholding structure includes 52.98% held by promoters, 37.92% by institutions, and 9.10% by non-institutions.

BPCL has signed a quadripartite Memorandum of Understanding (MoU) with BluJ Aerospace, the Agency for New and Renewable Energy Research and Technology (ANERT), Government of Kerala, and Cochin International Airport (CIAL) to develop the world's first hydrogen-fueled Vertical Take-off and Landing (VTOL) aircraft ecosystem.

As part of the initiative, BPCL will establish hydrogen refueling infrastructure for VTOL aircraft developed by BluJ Aerospace at its upcoming Hydrogen Refueling Stations (HRS) in Kochi and Trivandrum. Additionally, BPCL will participate in research and development (R&D) efforts to design and develop an Indigenous Proton Exchange Membrane (PEM) Hydrogen Fuel Cell with high power density to enable vertical lift-off, bolstering India's hydrogen technology advancements.

This strategic agreement aligns with India's objective of achieving net zero emissions by 2070 and marks a significant advancement in aviation innovation. The project aims to revolutionize urban and regional air mobility by integrating green hydrogen-powered VTOL aircraft, offering enhanced speed, reduced noise, improved efficiency, and a substantial reduction in carbon emissions.

BPCL is engaged in exploration, production, and retailing of petroleum and related products. Its retail business unit focuses on the marketing of petrol, diesel, and kerosene.