The board also approved a proposal to approach the Madhya Pradesh government for acquiring 2.69 crore warrants held by it in BORL
Proposes to merger Bharat Gas Resources with itself
Here are the top headlines on Tuesday morning
The Ministry of Petroleum and Natural Gas has been asked to give its views on the response and the process so far
The RSI has recently indicated a trend reversal and is on the rise to show strength in BPCL
BPCL is India's sixth-largest company by turnover.
The Indian basket crude oil touched $47.41 a barrel on November 26 as against average crude oil prices of $41 a barrel in the first fortnight of November this year
BPCL has around 73 million LPG consumers, while Indian Oil has 134 million and HPCL around 78 million
Marketing margins to support earnings, while refining outlook can improve with vaccine launches driving global economic recovery
Unlike Air India, the winning bidder for BPCL can easily bank on this revenue churner to recover the cost of acquisition
Analysts highlight the doubts over Vedanta's ability to raise finances for such acquisition
According to multiple sources, major players like Reliance Industries, Saudi Aramco, Rosneft and Exxon Mobil had shied away from the bidding process
Business Standard brings you the the top headlines of the day
The government is selling its entire 52.98 per cent stake in BPCL and last date of putting EoI was November 16
All that happened in the markets today
The formation of a "Death Cross" on BPCL has disrupted the upside bias lately. Here is how stocks of oil marketing companies look on the technical charts
In the past one month, stock of the state-owned oil marketing company outperformed the market by surging 27 per cent as compared to a 10 per cent gain in the S&P BSE Sensex till Saturday
From Indians boycotting Chinese goods this Diwali to the Centre's aim of creating 5-6 million formal sector jobs, Business Standard brings you the top headlines of the day
Aramco also not in fray; actual number bids not revealed but sources say three of four have been received
Trump's national security advisor promised peaceful transition to Biden administration as President continued to deny US election results. Stay tuned for Latest LIVE news today