After NRL stake sale, can BPCL sustain its valuation multiple?

At Tuesday’s closing worth of 469, the inventory was traded at 2.1 instances its e-book worth, which is at par with the long-term common.


BPCL could use a portion of the proceeds from NRL’s stake sale to scale back debt. It had a internet debt of round Rs 55,000 crore on the finish of March 2020.

ET Intelligence Group: The inventory of Bharat Petroleum Corporation (BPCL) gained over 3% on Tuesday in a unstable market following the corporate’s resolution to promote its whole stake of 61% in Numaligarh Refinery (NRL) and buy of Oman Oil’s holding within the Bina refinery. These transactions are seen as an vital milestone in direction of reaching the federal government’s aim to divest from BPCL.

BPCL has offered the stake to a consortium of Oil India and

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