BPCL shares rise over 5% amid reports of Saudi Aramco's interest in stake sale
Updated : October 16, 2019 12:33 PM IST
BPCL shares rose over 5 percent on Wednesday after reports that Saudi Aramco is likely to announce its interest in the company during Prime Minister Narendra Modi’s Saudi Arabia visit which is likely to take place at the end of October.
The stock rose as much as 5.5 percent to Rs 517.45. At 10:53 am, it was trading 4.7 percent higher at Rs 513.60 as compared to a 0.16 percent or 60 points rise in BSE Sensex at 38,566.
The government is looking at a strategic partner for BPCL for 100 percent of its stake with management control.