Stocks in oil marketing companies (OMCs) such as Bharat Petroleum Corp (BPCL) Indian Oil Corp (IOC), and Hindustan Petroleum Corp (HPCL) slipped through morning-to-mid-session on Tuesday after reports said the govt may sell its complete stake worth over Rs40000-Cr in BPCL to IOC.
At 1.20pm, the stock of IOC was trading near 3% lower at Rs117.75 per share on the NSE. The stock a high and low of Rs119.35 and Rs.116.25 respectively during mid-session.
Shares of BPCL was quoting 0.56% lower at Rs.353.05 whereas HPCL was trading a a minimum low lever at Rs259.50, down by 0.25%. In comparison, the NSE Nifty was trading 1.3% lower at 10,877 levels.