BPCL stocks soar over 6 pc after board approves stake sale in Numaligarh refinery
Shares of Bharat Petroleum Corporation Ltd (BPCL) on Tuesday zoomed over 6 per cent in early trade after the company said that it will exit Numaligarh refinery in Assam.
BPCL said it will exit Numaligarh refinery in Assam by selling its entire stake to a consortium of Oil India Ltd and Engineers India Ltd for Rs 9,876 crore.
The sale of Numaligarh Refinery Ltd clears the way for privatisation of India’s second-largest fuel retailer. On BSE, the shares touched 52-week high value of Rs 482.40, up 6.04 per cent. Similarly, on NSE, the scrip surged 5.96 per cent to 52-week high value of Rs 482.40.
