Shares of oil marketing cos plunge, BPCL down 5%
hare prices of the oil marketing companies (OMC) dropped on Tuesday with the scrip of privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) falling over 5 per cent.
At 2.16 p.m., BPCL shares on the BSE were trading at `441.05, lower by `25.95 or 5.56% from its previous close. Its shares fell amid reports of the company selling 4 % of treasury shares worth `3,774 crore in a bulk deal.
Shares of other OMCs also declined on Tuesday with stocks of Indian Oil Corporation Ltd (IOCL) trading 3.67% lower at `99.75 per share.
Hindustan Petroleum Corporation’s (HPCL) shares were trading at `234.60, lower by 3.62% from its previous close.
