PSUs rally on buzz of global oil companies’ interest in BPCL stake

Mumbai: Shares of Bharat Petroleum Corporation (BPCL) and about a dozen state-owned companies rallied between 5 per cent and 13 per cent on Friday over the report that global oil majors are showing interest in buying a majority stake in BPCL NSE 12.67 %, which could lead to a re-rating of the undervalued PSU stocks.

While BPCL gained 13 per cent, Hindustan Aeronautics rose 12 per cent. Bharat Dynamics, Chennai Petroleum, HPCL, Hindustan Copper and NBCC among others gained between 5 per cent and 10 per cent.