The disinvestment process of country’s second largest fuel retailer, Bharat Petroleum Corporation Ltd has moved on to the second phase. To buy a 52.98 per cent stake in BPCL, the government has received 'multiple' expressions of interest in the bidding process of the fuel retailer. But, the BPCL share price has plunged by close to a fourth since the strategic sale was approved in November last year. Experts noted that given the low level of participation BPCL was likely to result in a low valuation. Under the terms of the current bidding process, PSUs were not been permitted to participate in BPCL's disinvestment process.

Source: dna November 20, 2020 11:09 UTC