BPCL Posts Better Than Estimated Q3 Profitability: Motilal Oswal
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Motilal Oswal Report
Bharat Petroleum Corportion Ltd. posted better-than-expected profitability driven by better than expected marketing margin.
The latter has continued to counterpoise the weaker refining margin for the last couple of quarters now.
Further advice from Department of Investment and Public Asset Management is awaited on BPCL’s privatization. The company is ready with its preliminary assessment.
While Numaligarh Refinery Ltd.’s divestment is likely to be completed by FY21-end, the company is likely to acquire Oman Oil’s stake in Bharat Oman Refineries Ltd. soon. The assessment of the expression of interests submitted is ongoing.
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