Railway ministry denies charge, says divestment planned for next year
As part of a larger plan for disinvestment of Public Sector Undertakings, the government wants to privatise downstream oil refiner BPCL by the end of the first half of next financial year (2021-22)
The refinery was incorporated on April 22, 1993 and has a 3 million tonnes per annum capacity. It is the largest customer of OIL's crude produced from its North Eastern fields
The exact percentage of the stake of OIL and EIL will depend on the extent of right of first offer to be exercised by govt of Assam, which already holds 12.35% stake in NRL
PM launches BPCL's Rs 6K-cr petrochem complex in Kerala
The government has received three preliminary bids to buy controlling stake in the country's second-largest fuel retailer
The government will sell 20 per cent of its stake in National Fertilizers through an offer for sale
Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) on Wednesday said it will buyout Oman Oil Company's shares in the Bina refinery project for about Rs 2,400 crore. BPCL holds a 63.68 per cent stake in Bharat Oman Refineries Ltd (BORL), which built and operates a 7.8 million tonne oil refinery at Bina in Madhya Pradesh. In a stock exchange filing, BPCL said it has "finalised commercial terms in connection with the purchase of the 88.86 crore equity shares of Bharat Oman Refineries Limited (BORL), constituting 36.62 per cent of the equity share capital from OQ S.A.0.C. (formerly known as Oman Oil Company S.A.0.C.) for a consideration of approx Rs 2,399.26 crore". The transaction, it said, is subject to the execution of the relevant transaction documentation and other conditions agreed upon among the parties. "Upon completion, BPCL will hold 100 per cent of the equity share capital in BORL," it said. On Tuesday, BPCL Director (Finance) N Vijayagopal had said that discussion
The Indian government has challenged in the Singapore High Court an international arbitration tribunal's verdict that overturned its demand for Rs 22,100 crore in back taxes from Vodafone Group Plc
Board declares 160 per cent interim dividend
The revenue from operations rose marginally year-on-year at Rs 87,292.62 crore
PNB plans to raise Rs 3,200 crore from share sale during the current quarter to enhance its capital base
The initial public offering (IPO) of India's largest insurance company LIC is likely after October this year, a top official said on Tuesday
Petrol prices in Mumbai stood at Rs 92.86 per litre -- the same as yesterday. In Chennai, petrol remained unchanged to sell at Rs 88.82
PSU stocks like IRCTC, BPCL, RCF, and RITES have not seen aggressive selling pressure. A small recovery may see a strong bullishness going forward
Asset quality needs monitoring as Q3's gross NPA ratio of 4.5 per cent is higher than average
Staffers fear the new owner of to-be-privatised firm will move to lower wages
The companies that exited the trillion club are IOCL, NTPC, BPCL, and Coal India
Vedanta currently holds a controlling stake in Cairn Oil & Gas, India's largest private sector crude oil producer, and maybe the keenest to diversify into the refining business