BPCL sells 49% stake in BSL to Shell

Saturday, March 17, 2007, 21:51 [IST]

New Delhi, Feb 21 (UNI) Bharat Petroleum Corporation Ltd (BPCL) today said it will sell its 49 per cent shareholding in Bharat Shell Ltd (BSL) to Shell.

''This is a great opportunity for enhanced growth in Shell's lubricants businesses in this emerging and dynamic market. Shell and Pennzoil branded lubricants are both established in the Indian market and we intend to continue to maintain and invest in both brands in the country,'' Shell Companies (India) Chairman Vikram Singh Mehta said.

A joint venture company with Shell Overseas Investments, BSL will require the time for final approval of the agreement which is a matter for the regulatory and Government authorities, a statement said.

UNI

Topics: ENERGY-BPCL-STAKE

Other articles published on March 17, 2007

Railways' freight revenue goes up by 16.60 per cent

Saturday, March 17, 2007,21:51 [IST]

New Delhi, Feb 21 (UNI) Sustaining its growth momentum, the Railways generated Rs 34,083.49 crore of revenue earnings from freight traffic during April 2006-January this year as compared to Rs 29231.71 crore during the corresponding period last year, registering an increase of 16.60 per cent. The Railways carried 593.67 million tonnes of freight traffic during the period as compared to 542.81 million tonnes carried during the corresponding period last year, an increase of 9.37 per cent. The Net Tonne.....

Sintex gets Rs 750 cr order from Gujarat govt

Saturday, March 17, 2007,21:51 [IST]

New Delhi, Feb 21 (UNI) Sintex Industries, plastic product and textile manufacturer, today entered into an agreement with the Gujarat Urban Development Company (GUDC) for the construction of 50,000 economically weaker sections quarters in Ahmedabad, Baroda, Rajkot and Surat entailing an investment of Rs 750 crore. The quarters will be constructed with monolithic construction technology, a housing solution designed by the company to address mass and low cost housing needs. The company has also decided to launch its spring-summer '2008-09'.....

Limitless Updates

India News

News Archives

Ranbaxy says no plans to sell stake, issue ADRs

Saturday, March 17, 2007,21:51 [IST]

New Delhi, Feb 21 (UNI) Generic drug maker Ranbaxy Laboratories Ltd today clarified its promotors were not intent on selling any stake or issue American Depository Reciepts (ADRs) to finance the possible part-acquisition of US-based pharmaceutical giant Merck. ''They (founders) strongly deny any plan or move on their part to sell any portion of their equity stakes in the company to any private equity firm or to any others,'' Ranxbaxy said in a statement. The clarification came after a leading.....

Australia's Indo Gold to set up gold mine in Rajasthan at Rs 2,000cr

Saturday, March 17, 2007,21:51 [IST]

Jaipur, Feb 21 (UNI) Australia-based Indo Gold Ltd (IGL) will invest Rs 2,000 crore to develop a gold mine and primary and secondary processing plants in Rajasthan. The company's consultants Golder Associates Pty Ltd has recently confirmed that Indo Gold has striked 3.85 crore tonnes of gold resources of low-grade as per Australian Joint Ore Reserves Committee (JORC) guidelines, in the state. The proposed mine with the required technology will bring the findings into a polished, fit-for-sale shape. ''Indo Gold.....

Sangeet Natak Akademi introduces 'Ustad Bismillah Khan Yuva Puraskar

Saturday, March 17, 2007,21:51 [IST]

New Delhi, Feb 21 (UNI) In order to commemorate the memory of shehnai maestro Bismillah Khan, Sangeet Natak Akademi -- the National Academy of Music, Dance and Drama -- has launched 'Ustad Bismillah Khan Yuva Puraskar' for young artists from 2006. ''The award, carrying a purse money of Rs. 25,000, is being launched in the name of Bharat Ratna and Akademi Fellow Ustad Bismillah Khan, who passed away last year,'' said the Akademi, an autonomous body of the Central government and.....