BPCL surges nearly 6% as reports say Saudi Aramco may bid for govt stake

On September 30, the group of secretaries on disinvestment gave its approval for to sell government's entire 53.29 per cent stake in BPCL, which is likely to be completed by March 31, 2020.

Shares of Bharat Petroleum Corporation (BPCL) climbed as much as 5.54 per cent to Rs 517.45 apiece on the BSE in the intra-day deals on Wednesday. The stock spurted after news reports suggested energy giant Saudi Aramco is likely to express its interest in the strategic sale of BPCL. 

Prime Minister Narendra Modi is likely to visit Saudi Arabia by the end of October and Aramco is likely to express its interest in the strategic sale of BPCL during the PM’s visit, said a report by CNBCTV18.com.

On September 30, the group of secretaries on disinvestment gave its approval for