With eye on PSU disinvestment, Anil Agarwal to form $10 bn fund with Centricus
Earlier, Agarwal had praised the Budget s focus on disinvestment. In a tweet, he announced his tie up with Centricus.
BusinessToday.In | February 12, 2021 | Updated 22:41 IST
Agarwal said Hindustan Zinc and Bharat Aluminium Company Ltd show the group s record in turning around companies post disinvestment.
Vedanta Resources Executive Chairman Anil Agarwal on Friday said he has partnered with London-based global investment firm Centricus for creating a $10 billion fund that will invest in stake sale of public sector companies by the Indian government.
Earlier, Agarwal had praised the Budget s focus on disinvestment. In a tweet, he announced his tie up with Centricus.
Here are the top stocks that are likely to hog the limelight today:
Magma Fincorp: Adar Poonawalla-controlled Rising Sun Holdings will acquire a 60 per cent stake in the non-banking financial company by subscribing to a Rs 3,456-crore preferential issue.
Q3 earnings: ITC, Coal India, Power Grid Corporation, ACC, Ashok Leyland, MRF and NCC are among 442 companies slated to post their December quarter numbers today.
Eicher Motors: Niche bike maker Royal Enfield may look at hiking prices from April in view of rising commodity prices, a top company official said on Wednesday.
BPCL: Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) will buyout Oman Oil Company s shares in the Bina refinery project for about Rs 2,400 crore.
BPCL takes control of Bina Refinery; buys out Omani company’s stake at ₹27 a share
February 11, 2021
A view of the Bharat Petroleum Corporation Limited in Chennai - THE HINDU×
BPCL is also in talks with Madhya Pradesh govt for acquiring the 2.69 crore convertible share warrants held by it in BORL
Bharat Petroleum Corporation Ltd (BPCL) will buy the 36.62 per cent equity shares it does not own in Bharat Oman Refineries Ltd (BORL) from OQ S.A.0.C.(formerly known as Oman Oil Company S.A.O.C) at ₹27 a share, in a deal worth ₹2,399.26 crore.
The transaction, when closed, will make BORL, which runs a 7.8-million tonne (mt) capacity refinery at Bina in Madhya Pradesh, a 100 per cent unit of BPCL. It will also improve the valuation of the ‘Maharatna’ PSU which has been put up for privatisation by the government.
Stocks in the news: Titan, NBCC, Magma Fincorp and Bharat Petroleum
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Last Updated: Feb 11, 2021, 08:03 AM IST
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Here are a few stocks which may buzz the most in today s trade. ITC, ACC, Ashok Leyland, MRF, Bayer Crop Science, Bosch, Piramal Enterprises and Petronet LNG are among the companies slated to report their Q3 earnings on Thursday.
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Nifty futures on the Singapore Exchange traded 6.00 points, or 0.04 per cent, lower at 15,065.00 in signs that Dalal Street was headed for a muted start on Thursday. Here are a few stocks which may buzz the most in today s trade:
Read more about Oil and Gas stocks fall on Business Standard. Oil and Gas stocks were trading with losses, with the S&P BSE Oil&Gas index decreasing 164.69 points or 1.11% at 14628.35 at 13:48 IST.