Vedanta says it’s in the fray for BPCL
Vedanta Ltd, India arm of Anil Agarwal-controlled, London-headquartered Vedanta group on Wednesday said it formally evinced interest in state-run oil refiner and marketer BPCL, which is on the block. While the government had confirmed receipt of “multiple expressions of interests” from domestic and foreign firms for the controlling stake in the oil major by the Monday evening deadline, Vedanta is the first potential bidder to confirm it’s in the fray.
The BPCL stock closed at Rs 383.2 on the BSE on Wednesday, falls 2.85% from previous day’s closing. Vedanta rose 1.4% to close at Rs 108.9.
