BPCL shares drop over 3% as government clears way for privatisation
NEW DELHI : Shares of BPCL fell over 3 per cent on Monday after the government repealed the legislation that had nationalised the company.
On the BSE, the stock declined 3.53 per cent to ₹497.
The shares of the PSU fell 3.21 per cent to ₹499 on the NSE.
Ahead of a proposed move to fully privatise state-owned fuel retailer Bharat Petroleum Corp Ltd (BPCL), the government has repealed the legislation that had nationalised the company, doing away with the need to seek Parliament nod before selling it off to private and foreign firms.
