BPCL falls 6% on report that government may revisit privatisation plan

The government holds 53% stake in BPCL and is planning to sell its entire stake

Shares of Bharat Petroleum Corporation Limited (BPCL) dipped 6 per cent to Rs 370.50 on the BSE in Monday's intra-day trade on reports that the government may revisit the company's privatisation plan, including revision of the terms of sale. The transition towards green and renewable fuel has made privatisation difficult in existing terms, a PTI report said quoting government officials.

The government, which currently holds 52.98 per cent stake in the oil marketing company, is planning to sell its entire stake for which three expressions of interest (EoIs), including one from billionaire Anil Agarwal-led Vedanta Group, have been received.