Home > Business > PTI > Report

ONGC may buy HPCL's stake in MRPL

September 25, 2003 13:27 IST

Oil and Natural Gas Corporation Ltd will submit a proposal to the Union government for acquiring Hindustan Petroleum Corporation Ltd's entire 16.97 per cent stake in Mangalore Refinery & Petrochemicals Ltd at Rs 37.75 per share even though HPCL is not keen to divest its holding.

The price is based on the pricing mechanism decided at the September 18 meeting of the ministry of petroleum and natural gas, ONGC informed the Bombay Stock Exchange on Thursday.

The ONGC board has also decided that as of now MRPL would continue to remain a subsidiary with management control of ONGC, it added.


Article Tools

Email this Article

Printer-Friendly Format

Letter to the Editor




Related Stories


HPCL pie in MRPL to go below 15%

OVL retains service of UK firm

ONGC m-cap nears Rs 1 trillion



People Who Read This Also Read


Govt weighs selloff options

Sensex sheds 59 points at close

'Low deficit key to higher FDI'






© Copyright 2003 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.











Copyright © 2003 rediff.com India Limited. All Rights Reserved.