BPCL gains 4% on report that govt wants to wrap up stake sale by March 2020
Shares of Bharat Petroleum Corporation (BPCL) were up 4 per cent to Rs 528 in early morning trade on the BSE on Monday after Finance Minister Nirmala Sitharaman was reported saying the government would wrap up the sale of Air India and BPCL by March 2020
The stock of the state-owned oil marketing company was trading close to its all-time high price of Rs 548, touched on October 4, 2019.
Finance Minister Nirmala Sitharaman on Saturday said the government would wrap up the sale of Air India and BPCL by March 2020, according to a news report in The Times of India.
Analysts at JP Morgan said that BPCL remains the most likely candidate for gathering revenues from strategic sale of the government stake.
