Maharashtra Natural Gas IPO: BPCL board approves ₹1,000 crore public issue of JV company
2 days, 4 hours ago

Maharashtra Natural Gas IPO: BPCL board approves ₹1,000 crore public issue of JV company

Live Mint  

Maharashtra Natural Gas, a joint venture involving Bharat Petroleum Corporation Ltd, GAIL, and Indraprastha Gas Ltd, is gearing up to go public with an Initial Public Offering exceeding ₹1,000 crore, as reported in a company filing by BPCL on January 6, which indicates that the board has given its preliminary approval for the offering. “We would however like to mention that there has been a news report that MNGL, joint venture of BPCL, GAIL, IGL is preparing to list through IPO of over Rs.1000 crore. As per news reports, BPCL and GAIL each possess a 22.5% stake in MNGL, whereas IGL commands a 50% stake, and the Maharashtra Industrial Development Corporation retains a 5% interest in the joint venture. “BPCL share price are currently trading at key support around 280 levels, going with the recent broader market weakness the stock has been under pressure, a further slip below 280 could drag prices further 265 whereas 300 is the immediate resistance only beyond which the uptrend would resume,” said Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One.

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History of this topic

Oil India, ONGC shares jump 5% today. What's fuelling the rally?
6 days, 8 hours ago

Oil India, ONGC shares jump 5% today. What's fuelling the rally?

India Today  

Shares of Oil India Ltd and ONGC surged up to 5% on Friday, buoyed by a sharp rise in crude oil prices, which reached their highest levels in over two months. According to YES Securities, ONGC’s oil production may fall 4.7% year-on-year in Q3, though gas production is likely to remain flat. For the December quarter, YES Securities projects a …

Indian Oil Corporation Share Price Today on 28-11-2024: Indian Oil Corporation share price are up by 0.04%, Nifty down by -0.78%
1 month, 1 week ago

Indian Oil Corporation Share Price Today on 28-11-2024: Indian Oil Corporation share price are up by 0.04%, Nifty down by -0.78%

Live Mint  

Indian Oil Corporation Share Price Today on 28-11-2024: At 28 Nov 11:11 today, Indian Oil Corporation shares are trading at price ₹139, 0.04% up from the previous closing price. On the technical front, the stock is trading above the 5,10 days SMA & lower than the 20,50,100,300 day SMA. The stock will have support at 5,10 days SMA & face …

Indian Oil Corporation Share Price Today on 25-11-2024: Indian Oil Corporation share price are up by 3.7%, Nifty up by 1.72%
1 month, 2 weeks ago

Indian Oil Corporation Share Price Today on 25-11-2024: Indian Oil Corporation share price are up by 3.7%, Nifty up by 1.72%

Live Mint  

Indian Oil Corporation Share Price Today on 25-11-2024: At 25 Nov 11:15 today, Indian Oil Corporation shares are trading at price ₹137.5, 3.7% up from the previous closing price. On the technical front, the stock is trading above the 5,10 days SMA & lower than the 20,50,100,300 day SMA. The stock will have support at 5,10 days SMA & face …

Indian Oil Corporation Share Price Today on 22-11-2024: Indian Oil Corporation share price are up by 1.26%, Nifty up by 1.15%
1 month, 2 weeks ago

Indian Oil Corporation Share Price Today on 22-11-2024: Indian Oil Corporation share price are up by 1.26%, Nifty up by 1.15%

Live Mint  

Indian Oil Corporation Share Price Today on 22-11-2024: At 22 Nov 12:35 today, Indian Oil Corporation shares are trading at price ₹132.4, 1.26% up from the previous closing price. On the technical front, the stock is trading below the short term simple moving averages of 5, 10, 20 day as well as longer term moving averages of 50, 100 & …

IGL, Mahanagar Gas, Gujarat Gas stocks fall up to 40% in three months. What lies ahead for these CGD Stocks?
1 month, 2 weeks ago

IGL, Mahanagar Gas, Gujarat Gas stocks fall up to 40% in three months. What lies ahead for these CGD Stocks?

Live Mint  

City Gas Distribution stocks—including Indraprastha Gas, Mahanagar Gas, and Gujarat Gas—have dropped between 23% and 43% over the past three months due to several challenges. “So, we cut the target prices of Indraprastha Gas, Mahanagar Gas, and Gujarat Gas by 30- 42% and downgrade Indraprastha Gas to Sell, Mahanagar Gas to Reduce and Gujarat Gas to Reduce,” the brokerage said. …

MGL, IGL & other CGD stocks plunge up to 15% after cut in priority gas allocation
1 month, 3 weeks ago

MGL, IGL & other CGD stocks plunge up to 15% after cut in priority gas allocation

Live Mint  

Shares of Mahanagar Gas, Indraprastha Gas, and Gujarat Gas among other city gas distribution companies cracked up to 15% on Monday after the government cut the Administered Price Mechanism allocation to CGD players by 20% for the second straight month. It estimates an adverse gross margin impact of ₹2–9 per scm based on the expected increase in gas costs depending …

GAIL share price surges 7% on Q2 boost; up 59% in last 1 year
2 months ago

GAIL share price surges 7% on Q2 boost; up 59% in last 1 year

Live Mint  

GAIL share price: Shares of GAIL surged almost 7 per cent in morning trade on BSE on Wednesday, November 6, a day after the company announced its September quarter scorecard. GAIL Q2 results GAIL on Tuesday, November 5, reported a 10 per cent year-on-year rise in September quarter consolidated net profit to ₹2,689.67 crore after an increase in earnings from …

Indian Oil Corporation Shares See a Price Bump, But Technical Indicators Remain Cautious
Trending News
2 months, 1 week ago

Indian Oil Corporation Shares See a Price Bump, But Technical Indicators Remain Cautious

Live Mint  

Indian Oil Corporation shares are trading up today, with the stock price increasing by 1.26%. The Nifty is also up by 0.97%. The stock has hit a high of ₹149.75 and a low of ₹146.25 during the day, and is trading below the short term simple moving averages of 5, 10, 20 day as well as longer term moving averages …

GAIL slashes prices of CNG across 20 cities
9 months, 4 weeks ago

GAIL slashes prices of CNG across 20 cities

Hindustan Times  

​GAIL India on Saturdayannouncedslashing of compressed natural gas prices by ₹2.50 a kg in 20 cities, including Bengaluru, Patna, Ranchi and the Taj Trapezium Zone, brightening prospects of petrol and diesel rates cut as state-run energy firms are reducing retail prices of fuels ahead of the 2024 general elections. GAIL’s decision coincides with the move of three major state-run oil …

Bpcl share price Today Live Updates : Bpcl closed today at ₹375.6, down -0.28% from yesterday's ₹376.65
1 year, 6 months ago

Bpcl share price Today Live Updates : Bpcl closed today at ₹375.6, down -0.28% from yesterday's ₹376.65

Live Mint  

On the last day, BPCL's opening price was ₹375.6 and the closing price was ₹376.65. Bpcl share price NSE Live :Bpcl trading at ₹375.6, down -0.28% from yesterday's ₹376.65 The current price of BPCL stock is ₹375.6, representing a decrease of 0.28% or a net change of -1.05. Bpcl share price Today :Bpcl trading at ₹375.6, down -0.28% from yesterday's …

Bharat Petroleum net profit surges by 168% to ₹6,780 crore in Q4 2023
1 year, 7 months ago

Bharat Petroleum net profit surges by 168% to ₹6,780 crore in Q4 2023

Hindustan Times  

Oil marketing company Bharat Petroleum Corporation has posted a 168 per cent growth in its net profit to ₹6,780 crore for the quarter ended March 31, 2023, against ₹2,559 crore in the corresponding quarter the previous fiscal year. Revenue from operations in the quarter under review surged 8 per cent to ₹1.33 lakh crore, against ₹1.23 lakh crore in the …

CNG, PNG prices drop, which oil and gas stocks to buy?
1 year, 8 months ago

CNG, PNG prices drop, which oil and gas stocks to buy?

Live Mint  

After the government passed on several key recommendations of Kirit Parikh's committee, major oil and gas companies have started to trim their natural gas such as CNG and PNG prices. In a report, research analysts at ICICI Direct said, "With the implementation of this pricing, APM gas prices would be subjected to a floor and ceiling price of $4/mmbtu and …

GAIL Gas cuts CNG, PNG prices after IGL, MGL; check revised prices here
1 year, 9 months ago

GAIL Gas cuts CNG, PNG prices after IGL, MGL; check revised prices here

Live Mint  

GAIL Gas Ltd, the city gas arm of the nation's largest gas firm GAIL Ltd, announced a reduction of up to ₹7 in the prices of CNG and piped cooking gas. GAIL Gas cut the price of the gas that households received through piped natural gas, or PNG, by ₹7 per standard cubic metre in Bengaluru and Dakshin Kannada and …

BPCL Privatisation: Govt Calls Off Present Expression of Interest Process To Sell 53% Stake
2 years, 7 months ago

BPCL Privatisation: Govt Calls Off Present Expression of Interest Process To Sell 53% Stake

News 18  

The government has called off the current expression of interest process for BPCL’s privatisation, which was dubbed as India’s biggest ever, as the majority of bidders have expressed their “inability to continue in the current process of disinvestment of BPCL”, according to a notification by the DIPAM. Owing to prevailing conditions in the global energy market, the majority of QIPs …

Govt Drops Offer To Sell 53 Pc Stake In BPCL As Most Bidders Express Inability To Participate
2 years, 7 months ago

Govt Drops Offer To Sell 53 Pc Stake In BPCL As Most Bidders Express Inability To Participate

ABP News  

New Delhi: The government on Thursday withdrew its offer to sell its entire 52.98 per cent stake in BPCL, saying that majority of bidders have expressed their inability to participate in the current privatisation process due to prevailing conditions in the global energy market. The government had planned to sell its entire 52.98 per cent stake in Bharat Petroleum Corporation …

BPCL Shares Tank 5% After Vedanta's Anil Agarwal Says Disinvestment Being Reviewed
2 years, 8 months ago

BPCL Shares Tank 5% After Vedanta's Anil Agarwal Says Disinvestment Being Reviewed

News 18  

BPCL shares drop as much as 5.4 per cent to Rs 372.3 apiece on BSE in Monday’s trade, after Vedanta’s Anil Agarwal says the BPCL disinvestment process is being reviewed. The central government had a plan to sell its entire 53 per cent stake in BPCL to private players in 2021-22, but after delays, this target was shifted to 2022-23. …

This Oil Stock has Potential to Grow 37 per cent in a Year. Know Details
2 years, 11 months ago

This Oil Stock has Potential to Grow 37 per cent in a Year. Know Details

News 18  

Ekmay Global Financial Services Ltd. has ‘add’ call on Bharat Petroleum Corporation with a target price of Rs 515. In its research report, the brokerage said that in a time frame of one year Bharat Petroleum Corporation Ltd. price can reach defined target. Bharat Petroleum Corporation Ltd. key products/revenue segments include petroleum products, oil crude, other operating revenue, subsidy for …

BPCL to invest ₹10,000 crore in six new city gas networks
2 years, 11 months ago

BPCL to invest ₹10,000 crore in six new city gas networks

The Hindu  

Bharat Petroleum Corporation Limited on Tuesday said it will invest ₹10,000 crore over the next five years in setting up city gas distribution networks in the cities for which it secured licences in the latest bidding round. BPCL won licences to retail CNG to automobiles and supply piped natural gas for cooking purposes in six geographical areas or GAs bid …

Union Cabinet Likely to Approve 100% FDI in BPCL Today
3 years, 5 months ago

Union Cabinet Likely to Approve 100% FDI in BPCL Today

News 18  

The Union Cabinet is likely up to approve 100 per cent foreign direct investment in the Bharat Petroleum Corporation, according to sources at CNBC Awaaz. The government, which owns a 52.98 per cent stake in the company is rolling out the divestment process of its holdings in an effort to raise R 1.75 lakh crore in proceeds in FY22. As …

BPCL Privatisation: Govt Receives Multiple Bids for Stake Sale; No Supermajor in Race
4 years, 1 month ago

BPCL Privatisation: Govt Receives Multiple Bids for Stake Sale; No Supermajor in Race

News 18  

New Delhi: The government on Monday received 'multiple' bids for buying out its stake in India's second-biggest fuel retailer BPCL but billionaire Mukesh Ambani's Reliance Industries as well as supermajors Saudi Aramco, BP and Total did not make a bid. Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management, which is handling the sale, tweeted that the transaction …

Rosneft, Aramco unlikely to bid for Bharat Petroleum stake: Report
4 years, 3 months ago

Rosneft, Aramco unlikely to bid for Bharat Petroleum stake: Report

Live Mint  

Rosneft and Saudi Aramco are unlikely to bid in the privatisation of Indian refiner Bharat Petroleum Corp, sources familiar with the matter said, as low oil prices and weak demand curb their investment plans. Russia's Rosneft had expressed an interest in buying the federal government's 53.29% stake in Bharat Petroleum when its chief executive Igor Sechin visited New Delhi in …

Govt extends BPCL bid deadline to November 16
4 years, 3 months ago

Govt extends BPCL bid deadline to November 16

India TV News  

The government has for the fourth time extended the deadline for bidding for privatisation of India's second-biggest oil refiner Bharat Petroleum Corp Ltd by one and a half months to November 16. While the Cabinet, in November last year, had approved the sale of the government's entire 52.98 per cent stake in BPCL, offers seeking expression of interest or bids …

BPCL Privatisation: Govt to Provide Rules on Employee Protection, Asset Stripping Later
4 years, 4 months ago

BPCL Privatisation: Govt to Provide Rules on Employee Protection, Asset Stripping Later

News 18  

The government will provide guidance on employee protection, asset stripping and business continuity in Bharat Petroleum Corp Ltd to potential acquirers of the company only at a later stage of bidding, according to privatisation rules issued by the disinvestment department. On a query on restrictions relating to employee protection, asset stripping, business continuity and lock-in of shares, DIPAM said, “This …

BPCL disinvestment: Govt invites bids to sell its 52.98 percent stake
4 years, 10 months ago

BPCL disinvestment: Govt invites bids to sell its 52.98 percent stake

India TV News  

In another Public sector companies disinvestment drive, the government on Saturday invited bids to sell its entire 52.98 percent stake in India's second-biggest oil refiner Bharat Petroleum Corp Ltd. "The Government of India is proposing strategic disinvestment of its entire shareholding in BPCL comprising 114.91 crore equity shares, which constitutes 52.98 percent of BPCL's equity share capital, along with transfer …

Govt to sell BPCL in mega push for privatization
5 years, 1 month ago

Govt to sell BPCL in mega push for privatization

Live Mint  

New Delhi:The cabinet committee on economic affairs on Wednesday cleared one of the government’s largest asset-sale exercises involving five companies, including the privatization of Bharat Petroleum Corp. Ltd and Shipping Corp. of India. Other companies in which the government will sell stakes include Container Corp, of India Ltd, THDC India Ltd and North Eastern Electric Power Corp. Ltd. As part …

Two-phased strategic disinvestment for BPCL likely
5 years, 2 months ago

Two-phased strategic disinvestment for BPCL likely

Live Mint  

New Delhi: The government may consider two-phased disinvestment for public sector oil refiner and retailer Bharat Petroleum Corporation Ltd, if the initial strategic sale of the entire 53.29% government stake in the company fails to get requisite response. Thus, the government may sell half or around 26-27% of its share first and consider complete exit from BPCL at a later …

CNG price goes up 4%, PNG prices goes up 7% in Mumbai
5 years, 9 months ago

CNG price goes up 4%, PNG prices goes up 7% in Mumbai

The Hindu  

The price of compressed natural gas has gone up by 4% to ₹51. 57 per kilogrammes while the price of piped natural gas has gone up by 7.2% to ₹31.53/SCM and by 6% ₹37.13/SCM respectively with effect from April 4, as the city gas distributor, Mahanagar Gas Limited increased the prices. "In view of an increase in MGL’s gas costs …

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