Shares of Bharat Petroleum Corp Ltd declined on Tuesday as much as 5 percent to Rs 392.10 after the bidding for a major stake in the company failed to attract super majors Saudi Aramco, BP and Total or even Mukesh Ambani's Reliance Industries.

Global and domestic companies were invited by the government to submit their expressions of interest for its 52.98 percent stake in Bharat Petroleum Corp Ltd (BPCL) by Monday's deadline.  "Strategic disinvestment of BPCL now moves to the second stage after multiple expressions of interest have been received," tweeted Finance Minister Nirmala Sitharaman without mentioning the number of bids received or the names of the bidders.

 As per a PTI report citing four industry officials, 3-4 bids have been put in. Reliance Industries, which was considered a potential bidder as BPCL would have added 22 percent fuel market share to its fledgling retail business and made it the nation's number one oil refiner, did not put in an expression of interest (EoI) at the close of the deadline on Monday, the PTI report said.

During the mid-noon session, on the NSE, shares of Bharat Petroleum Corp Ltd quoted at Rs.397.35, down by Rs.15.50 from its previous closing. IN comparison,  Nifty touched at 12828, up by 46 points in trade.

Petrol-diesel prices remain unchanged even today, Know here

Market: Gold Rates in India Open Higher On Tuesday

Khadi India Registers Record sale this year