Bharat Petroleum Corporation (BPCL) is reportedly in talks with GAIL (India), country’s largest gas distributor, to purchase a majority of government’s stake in latter. The government is yet to approve the plan. Current market capitalization of BPCL is around Rs 1.08 lakh crore, while GAIL India has a market cap of around Rs 64,000 crore.
BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.