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BPCL dips 5% on profit-booking as govt extends bidding deadline by 2 months

In the past two weeks, the stock of the state-owned oil marketing company has rallied 23 per cent.

Bharat Petroleum, BPCL
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The Cabinet had in November last year approved the sale of government's entire 52.98 per cent stake in BPCL.

SI Reporter Mumbai
Shares of Bharat Petroleum Corporation (BPCL) slipped 5 per cent to Rs 432 in the morning trade on the BSE on Thursday after the government for the third time extended the deadline for bidding for the privatisation of India's second-biggest oil refiner by two months to September 30.

In the past two weeks, the stock of the state-owned oil marketing company rallied 23 per cent on the report that the global oil giants are showing interest in the company. In comparison, the S&P BSE Sensex was up 5.6 per cent during the same period. 

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First Published: Jul 30 2020 | 9:43 AM IST

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