We mentioned here yesterday that The Cabinet Committee on Economic Affairs (CCEA) has became active in taking up strategic sale of identified companies. BPCL is seen amongst listed space to be taken up by end of  this month, whereby timeline shall be fixed for inviting financial bids from bidders in the next 2 months thereafter, by end of July.

Last week vested media (may be to help Big Fish), carried a piece that BPCL divestment may get delayed by three months, as prospective bidders asked for 3 months time extension. This is an irresponsible and retail investors' interest damaging news, as we gathered from our sources that Vedanta Ltd is more than eager to submit financial bids (even yesterday).

It is learnt that immediately after approval of audited Q4 and FY 21 numbers, CCEA will set timeline for financial bids. Share is already seen in accumulation for the last 3-4 days, and by month end, big players would acquire sizeable chunk of BPCL.   

Then, Media from first week of June, will start shouting on BPCL privatisation.
Take a note of this.

This is not a Buy recommendation, while stock recommendations are provided exclusively to our paid members in the Member Zone.