BREAKING NEWS
Credit to Stoinis as it didn’t seem like 210 track: KL Rahul
Deepfake video of Ranveer Singh: Cyber police register case against X user
Kharge attacks PM Modi over his remarks about Congress manifesto
Intense heat wave in eastern states spreads to south India
Modi is ‘Vish Guru’, never respected ‘magalsutra’: Jairam Ramesh
Bengaluru-Mangaluru special trains announced for April 25 and 26
South Karnataka on high alert over bird flu reported in Kerala
UGC warns against ’10-day MBA’ programme, misleading abbreviations for degree nomenclature
Modi will go to jail if electoral bonds ‘scandal’ is investigated: M B Patil
Delhi police detains shopkeeper over biryani served on plate with Lord Ram image, releases him later
Country’s biggest leader given up morality, does not walk on path of truth: Priyanka Gandhi on PM
Vitla: 2 workers asphyxiated to death while fixing well rings
“Very sorry. We will be on your side,” CM Siddaramaiah to slain student’s father
Have issued unqualified apology for lapses: Ramdev, Balkrishna tell SC
Ensure children up to 12 yrs are allocated seats with their parents in flight: DGCA tells airlines
ONGC repays a third of loan taken to buy HPCL
Team Udayavani, Aug 20, 2018, 5:16 PM IST
New Delhi: State-owned Oil and Natural Gas Corp (ONGC) will not sell its stake in IOC and GAIL in the near future as it has used internal resources to repay close to a third of the Rs 24,881 crore loan it had taken to buy Hindustan Petroleum Corp (HPCL), people with direct knowledge of the matter said.
ONGC had in January received government approval to sell its 13.77% stake in IOC and 4.86% state in gas utility GAIL India to help fund the Rs 36,915 crore acquisition of HPCL.
“IOC shares were trading at around Rs 195 in January and it is now at Rs 159 (Friday’s closing). It doesn’t make sense to sell the shares at such a big loss,” a person with direct knowledge of the matter said.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Reverse migration has begun, says FM Nirmala Sitharaman
Markets sustain winning streak — Sensex jumps over 560 points, Nifty tops 22,300-level
Sensex climbs 640 points, Nifty tops 22,300-level in early trade
Insurance regulator IRDAI abolishes age restriction on health insurance product
Elon Musk says India visit delayed due to Tesla obligations
MUST WATCH
Latest Additions
Credit to Stoinis as it didn’t seem like 210 track: KL Rahul
“Had the game in hand, but…”: Ruturaj Gaikwad on reason behind CSK’s 1st home loss in IPL 2024
Lashkar terrorist behind government employee’s killing in Rajouri: J&K Cops
Deepfake video of Ranveer Singh: Cyber police register case against X user
Kharge attacks PM Modi over his remarks about Congress manifesto