• About Us
  • Contact us
  • Privacy Policy
Advertisement
  • Home
  • News
    CUTS International and Israel’s SIGNAL Group forge strategic partnership

    CUTS International and Israel’s SIGNAL Group forge strategic partnership

    Conference on strengthening statistical systems tomorrow

    Conference on strengthening statistical systems tomorrow

    I&B Ministry launches vigilance compendium ‘Satark’

    I&B Ministry launches vigilance compendium ‘Satark’

    RECPDCL transfers two transmission SPVs to PGCIL

    RECPDCL transfers two transmission SPVs to PGCIL

    Startups in the North Eastern region: Fueling growth with govt support

    Startups in the North Eastern region: Fueling growth with govt support

    IIS Officer Samrat Bandopadhyay wins “Megastar” title at NPTEL IIT Madras

    IIS Officer Samrat Bandopadhyay wins “Megastar” title at NPTEL IIT Madras

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Governance
  • India
  • Digital
  • Industry
  • Infrastructure
  • Economy
  • PSE
  • Health
  • E Magazine
No Result
View All Result
  • Home
  • News
    CUTS International and Israel’s SIGNAL Group forge strategic partnership

    CUTS International and Israel’s SIGNAL Group forge strategic partnership

    Conference on strengthening statistical systems tomorrow

    Conference on strengthening statistical systems tomorrow

    I&B Ministry launches vigilance compendium ‘Satark’

    I&B Ministry launches vigilance compendium ‘Satark’

    RECPDCL transfers two transmission SPVs to PGCIL

    RECPDCL transfers two transmission SPVs to PGCIL

    Startups in the North Eastern region: Fueling growth with govt support

    Startups in the North Eastern region: Fueling growth with govt support

    IIS Officer Samrat Bandopadhyay wins “Megastar” title at NPTEL IIT Madras

    IIS Officer Samrat Bandopadhyay wins “Megastar” title at NPTEL IIT Madras

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Governance
  • India
  • Digital
  • Industry
  • Infrastructure
  • Economy
  • PSE
  • Health
  • E Magazine
No Result
View All Result
No Result
View All Result
Home Economy

BPCL to sell 61.65 percent stake in Numaligarh refinery

admin by admin
March 2, 2021
in Economy, Governance, India, PSE
BPCL to sell 61.65 percent stake in Numaligarh refinery
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

New Delhi: Bharat Petroleum Corporation (BPCL) board has approved sale of its 61.65 percent stake in Numaligarh refinery for ₹9,875 crore, the company said in a regulatory filing.

The consortium of OIL and Engineers India Ltd will acquire 49 percent and the rest 13.65 percent will be sold to the government of Assam, director (Finance) N Vijayagopal said.

The oil marketing major earlier said that it would complete stake sale by by the end of March.

The sale of NRL is considered to be the first step towards disinvestment of BPCL. In the nation’s biggest privatisation till date, the central government will sell its entire 52.98% stake in BPCL. The government earlier indicated that it expects to complete BPCL privatisation by the first half of the fiscal beginning April (2021-22). The sale is key to achieving the ₹1.75 lakh crore disinvestment target set for 2021-22. Anil Agarwal-led Vedanta Group and private equity players like Apollo Global, and I Squared Capital earlier expressed their interests in BPCL.

Numaligarh Refinery is looking to expand its refining capacity from 3 million tonnes per annum to 9 million tonnes a year at an investment of ₹22,594 crore. The project is expected to be completed by 2024.

“The consolidated total income of Numaligarh Refinery Limited for the financial year ended 31 March, 2020 was Rs. 14,244.29 crore,” BPCL said. The consolidated net worth of the refinery as of 31 March, 2020 was ₹5,292.00 crore.

BPCL reported 120% increase in net profit to ₹2,777.6 crore for the quarter ended in December on the back of inventory gains. The company posted 1,260.6 crore net profit in the same period a year back. The company booked ₹771 crore inventory gains after the fuel it made from crude oil it bought at lower prices got sold at higher rates.

“The share purchase agreement will be entered entered into; into after obtaining approval from the shareholders,” it further added.

Previous Post

GST revenue collections for Feb 2021 stood at 1.13 lakh crore, surpasses 1 lakh crore fifth time in a row

Next Post

Nasscom, Microsoft join hands to promote AI in key sectors

admin

admin

Next Post
Nasscom, Microsoft join hands to promote AI in key sectors

Nasscom, Microsoft join hands to promote AI in key sectors

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
IIS officer Samrat Bandopadhyay sets learning benchmarks, lives the motto ‘Walk the Talk’

IIS officer Samrat Bandopadhyay sets learning benchmarks, lives the motto ‘Walk the Talk’

June 17, 2025
REC extends Rs 4,785 Crore for HPCL Rajasthan Refinery’s project in Barmer

CUTS International, Newland Global Group ink MoU to boost Australia-India trade collaboration

May 30, 2025
CUTS International and Israel’s SIGNAL Group forge strategic partnership

CUTS International and Israel’s SIGNAL Group forge strategic partnership

May 21, 2025
India’s first AI city in Uttar Pradesh

India’s first AI city in Uttar Pradesh

February 23, 2025
Mucormycosis or fungal infection : Deadly sequel of Covid-19

Mucormycosis or fungal infection : Deadly sequel of Covid-19

1

Village Roadshow Entertainment Secures $480 Million

0
APSC needs financial autonomy to tone up working

APSC needs financial autonomy to tone up working

0
Corruption down revenue up

Corruption down revenue up

0
TTDF symposium 2025 concludes at IIT Madras Research Park

TTDF symposium 2025 concludes at IIT Madras Research Park

June 21, 2025
Apurva Chandra appointed Principal Advisor for defence acquisition

Apurva Chandra appointed Principal Advisor for defence acquisition

June 21, 2025
NIXI Day 2025: Powering India’s Internet Since 2003

NIXI Day 2025: Powering India’s Internet Since 2003

June 20, 2025
Meril launches India’s first TEER system ‘MyClip’ to treat Mitral valve disease

Meril launches India’s first TEER system ‘MyClip’ to treat Mitral valve disease

June 20, 2025

Recent News

TTDF symposium 2025 concludes at IIT Madras Research Park

TTDF symposium 2025 concludes at IIT Madras Research Park

June 21, 2025
Apurva Chandra appointed Principal Advisor for defence acquisition

Apurva Chandra appointed Principal Advisor for defence acquisition

June 21, 2025
NIXI Day 2025: Powering India’s Internet Since 2003

NIXI Day 2025: Powering India’s Internet Since 2003

June 20, 2025
Meril launches India’s first TEER system ‘MyClip’ to treat Mitral valve disease

Meril launches India’s first TEER system ‘MyClip’ to treat Mitral valve disease

June 20, 2025
Smart Governance

Smart Governance is a community engagement platform bringing together decision-makers and bureaucrats from the Indian Government together through a strategic mix of platforms such as Print, Digital, Live Events, Virtual Events, Research, and Training platforms.

Follow Us

Browse by Category

  • Digital
  • Economy
  • Education
  • Governance
  • Health
  • India
  • Industry
  • Infrastructure
  • Innovation
  • Interviews
  • My View
  • News
  • PSE
  • Uncategorized

Recent News

TTDF symposium 2025 concludes at IIT Madras Research Park

TTDF symposium 2025 concludes at IIT Madras Research Park

June 21, 2025
Apurva Chandra appointed Principal Advisor for defence acquisition

Apurva Chandra appointed Principal Advisor for defence acquisition

June 21, 2025
  • About Us
  • Contact us
  • Privacy Policy

© 2025 Smart Governace

No Result
View All Result
  • Home
  • News
  • Governance
  • India
  • Digital
  • Industry
  • Infrastructure
  • Economy
  • PSE
  • Health
  • E Magazine

© 2025 Smart Governace