BPCL extends losses into 3rd day as Centre calls off privatisation process

The government has called off the privatisation process of state-owned OMC for now after two of the three companies that had shown interest in acquiring the PSU withdrew their bids

Shares of Bharat Petroleum Corporation Limited (BPCL) fell 2 per cent to Rs 318 on the BSE in Friday’s trade, in an otherwise firm market, as the government has called off the privatisation process of the state-owned oil marketing company for now. The development comes after two of the three companies that had shown interest in acquiring the public sector undertaking (PSU) withdrew their bids. In comparison, the S&P BSE Sensex was up 0.74 per cent at 54,653 points at 1:00 PM.

Based on the decision of the Alternative Mechanism on strategic disinvestment, which comprises Finance Minister Nirmala Sitharaman,