Shares of Bharat Petroluem final traded 0.87 per cent greater at Rs 477 on the BSE.
Share worth of Bharat Petroleum Corporation Limited (BPCL) edged greater by round two per cent on Tuesday, May 25, after the oil refiner mentioned that it might promote its stake in Petronet LNG and Indraprastha Gas (IGL). On Tuesday, Bharat Petroleum opened on the BSE at Rs 477, swinging to an intra day excessive of Rs 478.95 and an intra day low of Rs 469, within the buying and selling session to date. According to information company PTI, Bharat Petroleum, which is privatisation-bound, might promote stake as a way to shed its promoter standing, in order that its new proprietor could make open provide for the 2 fuel firms.
As of March 31, 2021, Bharat Petroleum owned 15.75 crore shares in IGL (Indraprastha Gas) translating into 22.5 per cent stake within the firm. Likewise, Bharat Petroleum had 18.75 crore shares in Petronet LNG translating right into a 12.5 per cent stake within the firm. Petronet is the nation’s largest liquified pure fuel importer.
According to the authorized place evaluated by the Department of Investment and Public Asset Management or DIPAM, the acquirer of Bharat Petroleum should make an open provide to the minority stakeholders of Indraprastha Gas Limited and Petronet for acquisition of 26 per cent shares. The division working the method for the sale of presidency’s complete 52.98 per cent stake in Bharat Petroleum.
On the NSE, Bharat Petroleum opened at Rs 476.80, witnessing an intra day excessive of Rs 479, and an intra day low of Rs 469, within the session to date. It final traded 0.88 per cent greater at Rs 477 on the NSE.
Shares of Bharat Petroluem final traded 0.87 per cent greater at Rs 477 on the BSE.
