HPCL, MRPL boards set to take up the proposal for merger by August
.jpg)
The boards of Mangalore Refineries and Petrochemicals (MRPL) and Hindustan Petroleum Corporation (HPCL) are set to take up the proposal for merger of the two companies by August. After the acquisition of majority stake in the HPCL by Oil and Natural Gas Corporation (ONGC), it was expected that ONGC may look at further synergy in business by merging the two subsidiaries.
“The boards of these companies are set to take up the merger proposal with in two months,” said Shashi Shankar, chairman of the ONGC. To complete the deal, the HPCL has three options before it. It can either buyout ONGC’s shares or go for a share-swap deal and can go for a combination of both these options. The Mangalore refiner is yet to meet the Sebi norm of minimum 25 per cent public shareholding by August 21.
Other Latest News
.webp)
A total subsidy of Rs 56,993 crore is given every year by the Indian Railways to all categories of passengers, with a 46 per cent rebate on every ticket, Railway Minister Ashwini Vaishnaw said on Wednesday.
Replying to multiple questions in the Lok Sabha on restoring discounts given to various categories of train passengers, he said if the price of a ticket is Rs 100, then the railways charges just Rs 54 for it -- a discount of 46 per cent.
.webp)
Punjab Chief Minister Bhagwant Mann strongly condemned the attack on Shiromani Akali Dal leader Sukhbir Singh Badal, who was fired at while performing 'sewa' outside the Golden Temple on Wednesday morning, and directed police to investigate the incident.
The chief minister also lauded the promptness of the Punjab Police in nabbing the attacker.
.webp)
Former Delhi Chief Minister Arvind Kejriwal on Wednesday launched a scathing attack on the BJP-led central government after three members of a family were found dead at their home in the national capital.
Describing the incident as "extremely painful and frightening," the AAP convener accused the Centre of allowing criminals a free hand and failing to ensure law and order in the capital.
.webp)
BJP leader Devendra Fadnavis is all set to return as Maharashtra’s chief minister for a historic third term, following a critical consensus reached during the BJP core committee meeting on Wednesday. The decision, which ended days of suspense, cements Fadnavis’s leadership at the helm of Maharashtra’s new government.
The proposal for Fadnavis's appointment was made by former Gujarat Chief Minister Vijay Rupani, who was appointed as the party’s observer for the Maharashtra legislature meeting.
.webp)
Leaders of several INDIA bloc parties protested on the Parliament premises on Wednesday over the Adani indictment issue and called for a joint parliamentary probe into the matter.
MPs of the Congress, AAP, RJD, Shiv Sena (UBT), DMK and the Left parties, among others, raised slogans in favour of their demand and held a banner reading "Modi-Adani are one" at Parliament's Makar Dwar. The TMC kept away from the opposition protest.
.webp)
.webp)
.webp)
.webp)
.webp)
