BPCL disinvestment: Vedanta may take over government-owned oil & gas company at $12 bn —What should investors do with shares?

In a big development for Bharat Petroleum Corporation Limited (BPCL) disinvestment exercise, Zee Business Managing Editor, Citing Bloomberg, on Thursday said that Vedanta may buy the Indian government-owned oil and gas company. As per the sources, an investment of $1200 crore could be finalised to seal the deal.  

Breaking down this alleged deal,  Anil Singhvi said if we look at equity investment level, BPCL price boils down to around Rs 415 per share as derived by Zee Business research team.  

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Reacting to this development, Founder & CEO at Power My Wealth Saneep Wagle said there was some spike in the share price of BPCL since the news surfaced. " One could buy it in the range of Rs 393-394 with the stop loss of Rs 389 per share. Alternatively, once the stock crosses Rs 403, positionally the share can surge up to Rs 430 straightway.  

Founder of Tradeswift Broker Company Sandeep Jain said the action in both stocks was primarily due to this development, however, I feel the price is quite less and more strong price would appear once clarity around this subject surfaces. "One should definitely buy BPCL at current levels," said Jain.  

BPCL disinvestment has been hanging in the balance since the last year and there has not been much clarity on this front.  

#BreakingNews | #BPCL, #Vedanta के लिए बड़ी खबर

BPCL की खरीद पर $1200 Cr तक निवेश की योजना
हिस्सा खरीद पर $1200 Cr तक निवेश की योजना pic.twitter.com/jLMi9aS4hG

— Zee Business (@ZeeBusiness) January 13, 2022

Earlier in October 2021, Tuhin Kant Pandey, Secretary, Department of Investment & Public Asset Management (DIPAM) had said the government may close disinvestment of BPCL in second half of this financial year and may also launch IPO of LIC in the last quarter.   

"Govt of India expects to complete disinvestment of BPCL (Bharat Petroleum Corporation Limited) in second half of this financial year & hopes to launch IPO of LIC in the last quarter," DIPAM secretary Pandey had told news agency ANI. 

Meanwhile, there has not been much clarity on either BPLC disinvestment or LIC IPO