The spread of coronavirus and a crash in global crude price may adversely hit government’s plan of disinvesting in Air India and Bharat Petroleum Corp. Ltd.
The rapid spread of the Covi-19 virus in more than 100 countries, has badly hit the travel and hospitality industry. On the other hand, the global crude price has crashed by a huge 30%, after Saudi Arabia and Russia failed to agree to cut their production.
As a result there is a very negative sentiment in both aviation and oil sector and conditions are unfavourable for the sell-off of Air India and BPCL.
However, the government sources are optimistic that things may settle down soon and the investors will look at the opportunities in the medium term.
WhatsApp Group
Join Now
Google News
Follow Now
