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BPCL gets nod to divest shareholding in Numaligarh Refinery

14 Feb 2020 Evaluate

Bharat Petroleum Corporation (BPCL) has received approval from its Board of Directors for divestment of company’s shareholding of 61.65% in Numaligarh Refinery as per the decision of Cabinet Committee on Economic Affairs (CCEA). This divestment would be undertaken subject to the completion of all requisite formalities including inter-alia shareholders' approval. The Board of Directors at their meeting held on February 13, 2020 has accorded approval for the same.

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.

Peers
Company Name CMP
Reliance Industries 1219.00
Indian Oil Corpn. 131.45
Bharat PetroleumCorp 300.00
HPCL 350.65
MRPL 174.60
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