New Delhi, June 18 -- The stock price of Bharat Petroleum Corporation Ltd. (BPCL) has not exactly set Dalal Street on fire.

While 2024 and 2025 delivered steady gains, two major corrections have capped returns and prevented the stock from emerging as a significant outperformer.

While the correction towards the end of 2024 mirrored the broader decline in the Nifty after its peak, the latest pullback has been driven by the war in West Asia.

However, a case can be made that the company's core business has strengthened over the years.

The recent increase in fuel prices has also brought oil refining stocks back into focus.

So, is BPCL undervalued?

Read on.

BPCL operates one of India's largest downstream energy businesses. It refines cru...