BPCL most lucrative among govt's divestment candidates, say analysts

The company should get good suitors as it is sitting on good infrastructure and has a stable business outlook; the valuation seems attractive

Of the central public sector enterprises (CPSEs) approved by the government for divestment, state-owned oil refining and marketing major Bharat Petroleum Corporation Ltd (BPCL) is the most lucrative, say analysts. This is despite the government’s plan to segregate Numaligarh refinery out of the oil & gas major before handing over controlling stake to a strategic buyer.

In a late-evening announcement, Finance Minister Nirmala Sitharaman said the Cabinet Committee on Economic Affairs (CCEA) had approved the sale of government stake in five major CPSEs — BPCL, Shipping Corporation of India SCI, Container Corporation of India (CONCOR), THDCIL, and NEEPCO. The government