BPCL To Reward Shareholders Post Numaligarh Refinery Sale
Mar 02 2021, 5:24 PM
March 02 2021, 12:18 PM
March 02 2021, 5:24 PM
Bharat Petroleum Corp. will pay a dividend to its shareholders after the sale of its entire stake in Assam-based Numaligarh Refinery Ltd. is completed.âWe will hold an extraordinary general [meet] on March 25, and the process [stake sale] will be completed by March 31,â N Vijayagopal, director-finance, at the state-owned oil marketer, told BloombergQuint over the phone. The companyâs board, he said, will meet to discuss the dividend .
Bharat Petroleum Corp. will pay a dividend to its shareholders after the sale of its entire stake in Assam-based Numaligarh Refinery Ltd. is completed.
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The domestic markets rebounded smartly on Monday, rising nearly 2%, after a massive crash last week. Going into trade today, the BSE barometer Sensex could make a dash to reclaim the 50,000 mark amid a firm set of global cues. At 7.25 am, Nifty futures on the Singapore Exchange traded 102 points higher, indicating a gap-up start for indices back home. Besides, strong macroeconomic data and weakness in crude oil prices could also support the upside. India s goods and services tax (GST) collection surpassed the Rs 1 trillion-mark for the fifth consecutive month, touching Rs 1.13 trillion in February, indicating signs of improvement in the economy.
Here are the top stocks that are likely to be in focus today:
BPCL, OIL, Engineers India: Bharat Petroleum Corporation Ltd (BPCL) 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.
Quess Corp: The company announced the separation of roles of its Chairman and Managing Director. Suraj Moraje, currently Group CEO and Executive Director, will be elevated to Group CEO and Managing Director from April 1, while Ajit Isaac, currently Executive Chairman and MD, will continue in the role of Executive Chairman.
Hero MotoCorp: The two-wheeler maker, on Monday, reported a 1.45 per cent increase in total sales at 5,05,467 units in February. The company had sold 4,98,242 units in the same month of the previous year.
India Business News: Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) may use Rs 9,876 crore proceed from stake sale in Numaligarh Refinery to pay a special div