BPCL share price rallies 20% in two days; should you buy or hold the stock?

BPCL share price soared 13 per cent to Rs 444.60 apiece on BSE in Friday’s range-bound session. Bharat Petroleum Corporation Ltd stock has rallied over 20 per cent from Wednesday’s close. According to the media reports, global energy majors, including Reliance Industries, have shown interest in buying out BPCL. In a recent development, Bharat PetroResources Ltd, a wholly-owned subsidiary of BPCL, has finalised senior debt financing of $14.9 billion for two train LNG projects. “The progress on BPCL’s sale is positive for OMCs in terms of deepening deregulation and profitability outlook. Given the tight fiscal situation, disinvestment would be of utmost importance to the government this year,” Emkay Global Financial Services said in a report.