Bharat Petroleum Corporation (BPCL) rose 2.18% to Rs 464.80 after the company said its board has approved sale of 61.65% stake in Numaligarh Refinery (NRL) to a consortium of Oil India and Engineers India and to the Government of Assam.
The company will sell 45.35 crore equity shares, or 61.65% equity, in NRL for Rs 9,875.96 crore. If the Government of Assam does not participate in the acquisition of the stake, the consortium of Oil India (OIL) and Engineers India (EIL) will buy the stake.
The sale is expected to be completed within a month from obtaining all requisite approvals, BPCL said in a regulatory filing made after market hours yesterday. The final sale pact will be entered into after obtaining clearances from its shareholders, BPCL said.
To set up International Bullion Exchange at GIFT CityMulti Commodity Exchange of India
(MCX) has signed a Memorandum of Understanding with National Stock Exchange of India
(NSE), India INX International Exchange (IFSC) (India INX), National Securities
Depository (NSDL) and Central Depository Services (India) (CDSL) for setting
up Market Infrastructure Institutions comprising of International Bullion Exchange, Clearing
Corporation and Depository at Gujarat International Financial Trade (GIFT) City in lines with the
Government of India objective to make India a price setter in bullion through GIFT International
Finance Service Centre (IFSC) and in accordance with the International Financial Services Centres
Authority (Bullion Exchange) Regulations, 2020 and other applicable laws.
Read more about Utilties stocks gain on Business Standard. Utilties stocks were trading in green, with the S&P BSE Utilities index increasing 36.74 points or 1.74% at 2148.48 at 09:48 IST.
Jagran Prakashan, the publisher of leading Hindi daily Dainik Jagran, on Tuesday said its board has approved buying back shares worth up to Rs 118 crore. The board of directors of the company. approved the buyback of the company s fully paid-up equity shares of face value of Rs 2 each for an aggregate amount not exceeding Rs 118 crore. and at a price not exceeding Rs 60 per equity share payable in cash, from its shareholders/ beneficial owners (other than those who are promoters, members of the promoter group or persons in control), from the open market through stock exchange mechanism, it said in a regulatory filing.
Multi Commodity Exchange of India (MCX), along with other exchanges and securities depositories, will set up market infrastructure institutions in the GIFT City.
In a BSE filing made after market hours yesterday, the commodity exchange said that it had signed a Memorandum of Understanding with National Stock Exchange of India (NSE), India INX International Exchange (IFSC) (India INX), National Securities Depository (NSDL) and Central Depository Services (India) (CDSL) for setting up market infrastructure institutions comprising of International Bullion Exchange, Clearing Corporation and Depository at Gujarat International Financial Trade (GIFT) City.
The setting up of market infrastructure institutions is in line with the Government of India objective to make India a price setter in bullion through GIFT International Finance Service Centre (IFSC) and in accordance with the International Financial Services Centres Authority (Bullion Exchange) Regulations, 2020 and other applicable