Stock market analyst Nikita Surekha has maintained 'hold' rating on Bharat Petroleum Corporation Ltd (BPCL) stock.

According to analyst, the investors can exit on rally to around Rs 599-600.

Today, the stock of the company opened at Rs 583 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 658 and a low of Rs 410on BSE. Current EPS and P/E ratio of the stock stood at 42.53 & 13.56 respectively.

BPCL is quite a good stock because of the reason crude oil surges with equities and the stock falls with crude oil going up.

There is also news that the empowered group of ministers led by finance minister Pranab Mukherjee will meet on June 07 to decide on an increase in petrol and diesel prices.

During the fourth quarter ended March 31, BPCL has recorded an 80% decline in net profit, which stood at Rs 703 crore, down from Rs 3,628 crore during March 2009.

The company said that the fall in its come was because of an alteration in method adopted by the Oil Ministry for oil bonds disbursal.

The company's gross refining margin for the financial year ended March 31, stood at $1.78 a barrel for the company's Mumbai refinery and $4.87 per barrel for its refinery located in Refinery.

The direct market sales of petroleum products remained up at 27.70 million tonnes (mt) as compared to 27.16 mt in 2008-09. Sale of petrol during the period surged 10.69%.

Diesel sale remained up by 6.03% and for LPG it was 6.68%. On the other hand, sales of naphtha dipped 20.52 per cent and furnace oil by 11.82 per cent.