Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) on Monday said it will exit Numaligarh refinery in Assam by selling its entire stake to a consortium of Oil India Ltd and Engineers India Ltd for Rs 9,876 crore. The sale of Numaligarh Refinery Ltd clears the way for privatisation of India's second-largest fuel retailer. In keeping with the Assam Peace Accord, the government had decided to keep Numaligarh Refinery Ltd (NRL) in the public sector. As part of this, BPCL was to sell its entire 61.65 per cent stake to state-owned firms.
Alka Mittal has been appointed interim chairman and managing director of Oil and Natural Gas Corporation (ONGC) - the first woman to head the country's largest oil and gas producer. Mittal replaces Subhash Kumar, another interim head who retired after reaching superannuation age on December 31. "The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Ministry of Petroleum and Natural Gas for entrustment of additional charge of the post of chairman and managing director (CMD), ONGC to Alka Mittal, director (HR), ONGC for a period of six months with effect from January 1, 2022, or till the appointment of a regular incumbent to the post, or until further order, whichever is the earliest," the Department of Personnel and Training (DoPT) said in an order dated January 3, 2022.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Department of Disinvestment will soon appoint merchant bankers to manage 10 per cent stake sale in Engineers India which may fetch Rs 520 crore to the exchequer.
Engineers India Ltd named S Ramana Moorthy company secretary.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The government is keen to close the sale before March 31, 2021, to help meet a record Rs 2.1 lakh crore target which Finance Minister Nirmala Sitharaman has set from divestment proceeds in the Budget for 2020-21.
The forthcoming public offers of CIL and SAIL can be a roaring success if the debut history of 28 PSUs since 2003 is any indication, as 94 per cent of these public sector companies listed with a premium of at least 10 per cent on the bourses.
A meeting of the board of directors of Engineers India Ltd is scheduled on January 30, 2003 to take on record the unaudited financial results (provisional) for the third quarter ended December 31, 2002.\n\n\n\n
The Oil Ministry has approved the sale of 10 per cent Government holding in consultancy firm Engineers India Ltd, and a public offering is expected in the second half of July.
The two firms are discussing bidding jointly for CGD projects in cities that would be put on offer by the sector regulator, Petroleum and Natural Gas Regulatory Board in the future.
The government is likely to go ahead with divestment in 12-15 public sector units, including SAIL, Coal India, Hindustan Copper, Satluj Jal Vidyut Nigam Ltd and Engineers India Ltd among others next fiscal to raise Rs 40,000 crore, as stated in the budget.
The government on Thursday approved selling 10 per cent of its stake in EIL through the FPO route and issuing two bonus shares for every share of the company before the launch of the public offer.
The long-delayed Bhatinda refinery project of Hindustan Petroleum Corporation Limited crossed another significant milestone on Wednesday, with the award of the project management consultancy contract to Engineers India Ltd.
The Rs 16,047-cr company has appointed public sector consultancy, Engineers India Ltd, to conduct feasibility studies for the plant with a capacity of 3 million tonnes a year that is likely to be set up near the gigantic South Pars gas field in Iran.
Engineers India Ltd has posted a net profit of Rs 89.20 million for the quarter ended December 31, 2002 as compared to a net profit of Rs 114 million in the corresponding period last fiscal.
After getting Indian Oil Corporation, the nation's largest oil firm, to drop four independent directors and Engineers India Ltd to boot out two, it is now seeking to sack former Power Secretary P Uma Shankar, chartered accountant S Ravi and former BPCL Chairman R K Singh from the board of ONGC.
The draft transaction documents for sale of 51 per cent stake in Engineers India Ltd to a strategic partner have been finalised.
The government is likely to invite by February-end financial bids for divestment of 51 per cent stake in Engineers India Ltd to a strategic partner along with management control.
Israel has expressed interest in sharing its expertise on water purification and waste water treatment under Prime Minister Narendra Modi's pet project for cleaning river Ganga.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Putting money in key PSUs a better option
Govt seems to bullish to meet its disinvestment target in current fiscal.
Markets gained for the fifth straight session to end the customary 'Muhurat' trading session held to usher in the new year Samvat 2071 on a firm note post the slew of reforms announced by the government over the past few days.
Going by the experience of the previous years -- when the actual proceeds from stake sale were much lower than the targets -- the government's disinvestment target for 2014-15 appears too ambitious.
The President noted that the green shoots of recovery were already visible, with the economy growing at 5.7 per cent during the first quarter of current fiscal.
The New Year 2015, however, may see shares worth over Rs 50,000 crore (Rs 500 billion) being put on the table by the government, including by way of part-sale of its holdings in PSUs and its residual minority stakes in some private sector entities.
The National Democratic Alliance government is weeding out independent directors on the boards of public-sector undertakings (PSUs).
Strategy being reworked to launch ETFs, revive Suuti; proceeds may be Rs 24k crore
The government will decide in August whether to sell a 5 percent stake in ONGC, a senior oil ministry official said, in a deal that would be worth $2.9 billion at current market prices.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances