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I recognize that rifle.
I think the original finish on most com-bloc guns was shellac. It's cheap and easy to apply, but not fancy.
If it was me, I would sand off all the old finish with up to 220 grit sandpaper, making it look good and being careful to not round any corners, then try to find some stain that will make the buttstock match (or at least come close to) the forearm. Then I'd put on 3 or 4 coats of poly or tru-oil.
I'll be down your way tomorrow for the day. I have some stain and Tru-oil you can have if you want it.
Bulgarian stocks have an original finish of amber shellac.
Be wary when using any sort of penetrant or stain on Bulgarian stock sets. You may not like the results that you get on the lower handguard. This is because the LHG is walnut, while the rest of the stock is beech wood. I have had at least one Bulgarian LHG that would not take any stain at all - the walnut was just too dense. It did take great to a coat of amber shellac, which was I previously mentioned the original finish..
A little hint about amber shellac.. You might know that it's a pain in the *** to brush on and get it uniform. A foam brush does it better than a hair brush, but even better is an HVLP sprayer. Dilute the shellac about 1/4 with denatured alcohol, and spray in light coats. Rather than gumming up a nice HVLP gun, you can use a cheap "Preval" brand HVLP sprayer from Lowe's/Home Depot - just make sure to keep the nozzle cleaned out with denatured alcohol, or it will gum up.
Let shellac set up and harden for about a week or more. It's not really up to it's full hardness, even when it appears to be dry.
Personally I like plain old boiled linseed oil on the Bulgarian stocks. I've done about 3 sets of them with just simple hand-rubbing, undiluted BLO, then a polishing wax topcoat to seal it.
Here you can see a Bulgarian LHG and gas tube cover in amber shellac (the buttstock is Romanian)
Here is a full Bulgarian set finished in hand-rubbed BLO and wax topcoat. I like the natural colors that come out of the beech and walnut with BLO, and the wax finish makes the grain pop out. Photo doesn't do it justice. Tru-oil will get you similar results, but with a bit more luster/shine.