An Indian mission in Moscow to reset Russia ties with energy
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An Indian mission in Moscow to reset Russia ties with energy
Sanjay Dutta / TNN / Mar 3, 2021, 04:41 IST
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NEW DELHI: India on Tuesday opened a first-of-its-kind ‘Energy Office’ in Moscow, seeking to put energy investments at the centre stage of its strategic ties with Russia as defence transactions showed signs of waning.
The office, housed in the well-known landmark Federation Tower, combines the might of five Indian government oil and engineering companies – ONGC Videsh, IndianOil, GAIL, Oil India Ltd and Engineers India Ltd – to present a common interface for expanding cross-investments in the energy sector.
BPCL to pay special dividend post NRL deal newindianexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newindianexpress.com Daily Mail and Mail on Sunday newspapers.
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Bharat Petroleum to sale its equity in Numaligarh Refinery
Privatisation bound public sector refiner Bharat Petroleum Corporation Ltd (BPCL) said on Monday that its board has approved the proposal for sale of the company s equity shares in the Numaligarh Refinery Ltd (NRL) to a consortium of Oil India Limited and Engineers India Limited, along with the government of Assam.
BPCL is selling its entire shareholding of 61.65 per cent in NRL to the consortium as part of its sell-off process that mandated separation of the Assam-based refinery before the strategic sale.
As per the information shared with the stock exchanges, BPCL said that in case the government of Assam doesn t participate in the purchase of shares in NRL, its entire shareholding will be sold to the consortium.
Investors of Bharat Petroleum Corporation (BPCL) were handsomely rewarded on Tuesday as market participants rushed to the counter on hopes of special dividend payout. Shares of the state-owned refinery ended 3 per cent higher on the BSE, at Rs 469 per share, as its Board approved to offload the firm s holding in the Numaligarh Refinery unit for Rs 9,878 crore ($1.3 billion) as part of BPCL s privatization process. Earlier today, the share hit a fresh 52-week high of Rs 482.4 apiece, up 6 per cent on the BSE in the intra-day trade. The country s second-biggest state refiner will sell its 61.65 per cent holding in Numaligarh Refinery to a consortium of Oil India Ltd. and Engineers India Ltd. and may also include the state government of Assam, according to an exchange filing.
Equity indices up 1 pc, energy and IT stocks gain ANI | Updated: Mar 02, 2021 10:29 IST
Mumbai (Maharashtra) [India], March 2 (ANI): Equity benchmark indices were in the positive terrain during early hours on Tuesday with energy and IT stocks witnessing substantial gains amid positive global trends.
At 10:15 am, the BSE S&P Sensex was up by 514 points or 1.03 per cent at 50,364 while the Nifty 50 ticked up by 154 points or 1.03 per cent to 14,915.
All sectoral indices at the National Stock Exchange were in the green with Nifty IT up by 2.1 per cent, realty by 0.9 per cent and private bank by 0.7 per cent.
Among stocks, Bharat Petroleum Corporation rose by 5.4 per cent to Rs 479.85 per share after the company 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.