Sibling rivalry: BPCL, IOC neck and neck in terms of market value

State-owned Bharat Petroleum Corporation (BPCL) and Indian Oil Corporation (IOC) are in a fight to bag the most-valuable oil-marketing company (OMC) tag. At Wednesday’s closing prices, BPCL’s market value at Rs 1.09 trillion was more than that of IOC (Rs 1.08 trillion). The feat is noteworthy considering BPCL’s market cap was less than half of IOC's about 15 months earlier. The privatisation buzz and tailwind provided by subdued oil prices have triggered a massive rally in BPCL. Its shares have nearly doubled from the October 2018 levels of Rs 265 to over Rs 500 last week. On the other hand,