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BPCL's investors may see more gains: Here are two possible triggers

Likely approval of 100% FDI and further progress on disinvestment are potential triggers

BPCL
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Photo: Reuters

Devangshu Datta Mumbai
The sale of the government’s entire stake in Bharat Petroleum Corporation (BPCL) would be a test case for the disinvestment program. Unlike Hindustan Petroleum Corporation (HPCL), which was “sold” to ONGC, with the government transferring cash from ONGC’s Reserves and retaining control of both companies, this is a genuine disinvestment. 

The Q4 results show that BPCL has gained, like other PSU Oil Marketing companies, from inventory revaluation. But it also saw sales growth. BPCL reported PAT of Rs 11,940 crore for Q4, 2020-21, against a net loss of Rs 2,940 crore a year-ago. After excluding extraordinary items, the year-ago loss

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