BPL Ltd , all of a sudden, is in action today with the stock price spiking up almost 7% at Rs.22.55, its current high point of the day. Its 52-week high is at Rs.25.85.

The stock has zoomed up reacting to the statement which the company issued yesterday after market closure. The Board of Directors has decided to divest 11.54 crore equity shares of Rs 10 each in Bharat Energy Ventures, its subsidiary. These shares are currently held as investment by BPL. The shares will be sold at a fair value of Rs 10 each to Electronic Research Pvt Ltd.