 "Privatisation of BPCL is essential for meeting the record Rs 2.1 lakh crore target Finance Minister Nirmala Sitharaman has set from disinvestment proceeds in the Budget for 2020-21.")
Shares of Bharat Petroleum Corporation (BPCL) tanked up to 6.4 per cent to Rs 391 apiece on the BSE on Tuesday after media reports said the divestment of government's stake in the oil marketing company is unlikely to fructify in the current financial year.
The stock, however, pared losses later to trade 1.74 per cent lower on the BSE, as against 760 points, or 2 per cent, rally in the benchmark S&P BSE Sensex, after DIPAM secretary clarified that the proposed divestment would go ahead as planned and will happen in the current financial year. A combined 25.66 million shares
