BPCL board approves buying out stake in Bina refinery manufacturingtodayindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from manufacturingtodayindia.com Daily Mail and Mail on Sunday newspapers.
Bharat Petroleum Corporation (BPCL) on Thursday announced that the Board of Directors of the company has accorded its approval for acquisition of 888,613,336 (36.62%) of equity shares in Bharat Oman Refineries (BORL) from OQ S.A.O.C.
BPCL said the Board of Directors has also approved the proposal to approach Government of Madhya Pradesh for acquiring 269,00,000 warrants held by the Government in Bharat Oman Refineries.
BORL was incorporated on 25 February 1994 where BPCL holds 63.38% stake while OQ S.A.O.C holds 36.62% of the paid up share capital. The revenue from operations of BORL for the financial years in 2019-20 was Rs 41,940.96 crore, in 2018-19 it was Rs 31,597.59 crore and in 2017-18 was Rs 31,287.48 crore.
Shares of Surya Roshni gained 4 per cent to Rs 349 on the BSE in the intra-day on Friday after the company said it has received orders worth Rs 72.62 crore from state-owned oil & gas company Indian Oil Corporation (IOCL). The company has obtained orders aggregating to Rs 72.62 crore (excluding GST) for supply of API 5L Grade 3LPE Coated and bare Pipes to Indian Oil Corporation Limited for gas pipeline projects in Bihar and Tamil Nadu, which is to be executed in 8 months, Surya Roshni said in a exchange filing. Earlier in September, Surya Roshni had obtained orders aggregating to Rs 287.45 crore (excluding GST) for the supply of API Grade 3LPE Coated line Pipes to IOCL for LPG pipeline projects and Bharat Gas Resources (BGRL) for CGD.
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Top stocks to watch RIL, TCS, HCL Tech, Zee Entertainment, BPCL, Bharat Dynamics, HAL, Bharat Forge, and others
Top stocks to watch RIL, TCS, HCL Tech, Zee Entertainment, BPCL, Bharat Dynamics, HAL, Bharat Forge, and others
Navdeep YadavDec 18, 2020, 08:11 IST
BCCL
Here’s a list of stocks to watch for in trade today.
At 7:45 am, the SGX Nifty was down 0.18%, indicating a tepid start for Nifty50. However, the
US stocks gained on Thursday and marched toward record highs as a $900 billion fiscal stimulus bill to hasten the economic recovery from the COVID-19 pandemic appeared imminent. The Dow Jones Industrial Average closed 0.49% higher, and the S&P 500 was up 0.58%.
Zee Entertainment Enterprises (ZEE) said that the board of directors of the company has approved the acquisition of film production and distribution business as a going concern, on a slump sale basis from Zee Studios (formerly known as Essel Vision Productions), a wholly owned subsidiary of the company, for a cash consideration. Also the board of directors of the company considered and approved the transfer of the Digital Publishing Business Division of the company to Rapidcube Tecbnologies through a Business Transfer Agreement.
BPCL said its board of directors has accorded its in principle approval for merger of Bharat Gas Resources (a wholly owned subsidiary of BPCL) with BPCL. BGRL is engaged in the business of Natural Gas.