BPCL shares in focus after inking Rs 31,802-crore loan deal with SBI consortium for Bina refinery expansion, petrochem project

BPCL signed a Rs 31,802 crore loan agreement with the SBI Consortium to fund the development of a petrochemical complex and refinery expansion in Bina, Madhya Pradesh. The stock's target price suggests a 31% upside, but technical indicators show bearish signals. BPCL shares have declined 24% in the last three months, but gained 53% over two years.