BPCL hits 52-week low on likely delay in divestment, soaring oil prices

Even if OMCs are not made to share any under-recovery, the continued pricing intervention would make it utterly difficult to divest government's stake in BPCL, Motilal Oswal said in its report

Shares of Bharat Petroleum Corporation (BPCL) hit a 52-week low at Rs 356, down 3.5 per cent on the BSE in Tuesday's intra-day trade on concerns around delay in divestment. The stock of the state-owned oil marketing company (OMC) fell below its previous low of Rs 356.80 touched on February 15, 2022. Moreover, the stock has corrected 29 per cent from its 52-week high of Rs 503 hit on September 14, 2021.

Thus far in the month of February, the stock has slipped 10 per cent on reports that the privatisation of India's second-largest oil refiner may have been