BPCL To Sell Stake In Numaligarh Refinery For Rs 9,876 Crore
BPCL to sell stake in Numaligarh refinery, a deal for Rs 9,876 crore. Bharat Petroleum Corporation Ltd. (BPCL) will sell a stake in Numaligarh Refinery for Rs 9,876 crore.
BPCL announced the exit from Numaligarh Refinery Ltd in Assam on Monday. BPCL said that it would hold its entire stake in Numaligarh Refinery, Oil India Ltd. (OIL), and Engineers India Ltd.
(EIL) will sell the alliance for Rs 9,876 crore. Numaligarh Refinery Ltd. The sale will pave the way for the privatization of the country’s second-largest retail fuel company.
It is known that the government is preparing to privatize BPCL.
Oil India Ltd., Engineers India Ltd., And the Assam government have shown interest in buying this stake. The board of directors of BPCL approved the sale on Monday.
In a communication sent to the stock exchanges, the company said, “BPCL’s board approved a proposal to sell entire 445.35 crore equity shares of BPCL to NIL and ELI and Assam government in NRL in a meeting held on March 1, 2021. The stake will be sold for Rs 9875.96 crore.
After the sale of NRL, BPCL will have three refineries at Mumbai, Kochi (Kerala), and Bina (Madhya Pradesh). The government is going to sell its entire 52.98 percent stake in BPCL. It is being called the biggest privatization of today.
Government Numaligarh Refinery Ltd. (NRL) has been decided to be placed in the public domain under the Assam Peace Accord. Under this, BPCL will sell its entire 61.65 percent stake in NRL to public sector companies.
OIL and Engineers India Ltd. The alliance will probably acquire a 49 percent stake. The remaining 13.65 percent stake will be held by the Assam government.
NRL operates a 3 million tonne per annum oil refinery in Assam. OIL currently has a 26 percent stake in NRL. The Assam government holds a 12.35 percent stake in it.
Gold Price Today: Gold becomes cheaper in the futures market; Silver falls sharply, know what has become the rate.
Gold and silver prices fell on Tuesday in futures trade. On the Multi Commodity Exchange (MCX) at 10:15 am in April 2021, the price of delivery gold was down by Rs 255, or 0.56 percent, to Rs 45,053 per 10 grams.
In the previous session, the gold price in the April contract was Rs 45,308 per 10 grams.
At the same time, in June 2021, the price of delivery gold was trending at the level of Rs 45,200 per 10 grams with a break of Rs 266 i.e. 0.59 percent.
In the previous session, the gold price of the June 2021 contract was Rs 45,466 per 10 grams.
