BPCL tanks 6% after BPCL Trust offloads up to 7% stake in firm

The company's board has approved the sale of BPCL equity shares which are held by the BPCL Trust for Investment in shares through accelerated book built offering

Shares of Bharat Petroleum Corporation (BPCL) dipped 6 per cent to Rs 438 on the National Stock Exchange (NSE) in intra-day trade on Tuesday after BPCL Trust for Investment in Shares (BPCL Trust) sold up to 7 per cent of its stake in state-owned energy company through a block deal.

Till 09:21 am, around 153.66 million equity shares, representing 7.08 per cent of total equity, of BPCL had changed hands on the NSE. On the BSE, around 7.5 million equity shares or 0.34 per cent equity of the state-owned company had changed hands, the exchange data shows. The names of