Privatisation move: BPCL, SCI, Concor shares tumble

Shares of BPCL and Shipping Corp of India (SCI) tumbled on Thursday after the Cabinet approved sale of government’s stake in these companies.

While the SCI stock dropped 6.29% to close at Rs 64.05 on the BSE, BPCL scrip plunged 5.66% to close at Rs 513.80.

Both BPCL and SCI had hit their respective 52-week highs in the early trade. Meanwhile, the Container Corp stock fell 0.49% to Rs 575.15.