Buy call for BPL between 36-38 for medium term.
Gas shortage will be positive for LPG business and we might see improved sales number.
The company is operating with nil borrowings and using their own cash flows which in todays environment is not possible so a very good sign of sound management.
Qadir Bhai yeh check karein mra901 ne share karaya thaa.
BPL kee share price 60 tak gaye due to its acquisition lekin jab Rs 41.47 par Hashoo Group ne Buy kia to consecutive lower lock lagay... Hashoo Group walon ne ab dividend bhe koi nahi dena.... Hashwani shoom hai woh sirf paisa lena janta hai dena nahihttp://www.economyage.com/2012/09/hashoo-group-acquired-controlling-shares-of-burshane-lpg/
Hashoo Group – one of Pakistan’s largest conglomerates with interests in real estate, hospitality, travel services, chemicals, oil and gas, commodity trading, pharmaceuticals and mining – acquired a controlling stake in Burshare LPG, through their subsidiary OPI Gas (Pvt) Ltd.
OPI Gas is in the business of bottling and marketing liquefied petroleum gas (LPG) from fields owned by British Petroleum (BP) and the Oil & Gas Development Corporation (OGDC).
This deal witnessed an increase of Hashoo Group’s investment in LPG sector, a potential profitable area if Petroleum ministry continues with its plans to substitute CNG with LPG, as an alternative fuel in domestic, industrial, commercial and especially, transportation.
Almost two years ago, Hashoo Group acquired controlling stake in Shell Gas for a reported price of PKR 50 Crore back in June 2010.
OPI Gas has executed Shares purchase Agreement to sale 15,671,268 ordinary shares of Burshane LPG (Pakistan) Limited being 69.22% shareholding at PKR. 41.47 per share. This price represents a ‘make-no-sense’ 22 per cent discount from market share price of Burshane which is currently hovering at a price of PKR 53.27