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.
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Two pilot services on capital-Kochi route, another 50 buses to be introduced before October
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Powering on: India’s first hydrogen bus flagged off by Tata Motors in collaboration with the Indian Oil Corporation.
Two pilot services on capital-Kochi route, another 50 buses to be introduced before October
Kerala is set to become the first State to operate hydrogen-powered buses, with two buses set to ply on the Ernakulam-Thiruvananthapuram sector by mid-2021 on a pilot basis. Another 50 buses will be introduced before October 2021.
The zero-polluting buses are awaiting approval from the Automotive Research Association of India. Each bus must operate at least 500 km daily to cover the high investment. Uninterrupted availability of hydrogen as fuel source can be addressed since BPCL-Kochi Refineries Ltd. is already in a position to supply it. Only that hydrogen meant for industrial use must be purified further, sources in the Transport Department said