Tuesday, September 26, 2017

ONGC to buy HPCL in bulk or block deal in Nov-Dec: Report

OIL and Natural Gas Corporation (ONGC) will acquire the government's 51.11 per cent stake in HPCL through a bulk or block deal in November or December at the prevailing market price. The deal would fetch it over Rs 33,000 crore at the current market price, is done in October, ONGC wants time to raise the money required for the acquisition, a senior government official said.
The government's transaction advisor JM Financial and legal consultant Cyril Amarchand Mangaldas is preparing Information Memorandum (IM) on Hindustan Petroleum Corporation Ltd (HPCL) with India's largest oil and gas producer, ONGC, in the next 7-10 days.
The Maharatna PSU has appointed SBI Caps and the Citi Group...

Monday, September 25, 2017

NTPC to recruit Executive Trainees through GATE 2018

NTPC, a Maharatna PSU under the Ministry of Power on the basis of GATE score. For the recruitment of ET-2018, NTPC will accept GATE 2018 scores. NTPC will recruit executive trainees in the engineering disciplines of Electrical, Mechanical, Electronics, Instrumentation and Mining. The application process will begin in January 2018 and candidates willing to apply to NTPC should make sure to apply for...

Saturday, September 23, 2017

PGCIL to recruit executive trainees through GATE 2018

THE Power Grid Corporation of India Limited has said it will recruit engineers as executive trainees in various disciplines such as electrical, electronics, civil, and computer science based on their GATE scores of next year.
In an advertisement regarding the recruitment, the state-run electric transmission company said the number of posts and other details will be provided in a notification that will be published on its official website on January 4, 2018.
PGCIL, the Central Transmission Utility (CTU) of India, one...

Friday, September 22, 2017

NBCC to launch 1,000 flats for sale during festival

NBCC CMD Dr. Anoop Kumar Mittal
STATE-owned real estate firm NBCC will launch about 1,000 flats for sale in this festival season and is in discussion with the government to develop affordable housing projects on surplus land with PSUs. The company is also in talks with the government for developing islands in Andaman and Nicobar and Lakshadweep, its Chairman and Managing Director Anoop Kumar Mittal said. "We have been appointed as land management agency for...

Thursday, September 21, 2017

ONGC makes massive new discovery at Mumbai High: Report

MAHARATNA oil explorer Oil and Natural Gas Corp (ONGC) has discovered offshore fields to the west of its Mumbai High with an in-place reserves of about 20 million tonnes, media report says.
The Mumbai High field annually produces oil and natural gas of about 9 million to 10 million tonnes of oil equivalent. The PSU discovered hydrocarbon reserves...

Wednesday, September 20, 2017

HUDCO, PFC get Rajbhasha Kirti Puruskar on Hindi Divas

M Ravi Kanth, CMD HUDCO, receiving ‘Rajbhasha Kirti Puraskar’
2017’, from the President on Hindi Diwas.
PUBLIC sector undertakings PFC and HUDCO received and Rajeev Sharma, CMD, PFC receiving the prestigious “Rajbhasha Kirti Puruskar” (in the category of region ‘A’) for the year 2016-17 from President Ram Nath Kovind at a function organized...

Tuesday, September 19, 2017

HPCL to invest Rs 61,000 crore in 5 years

OIL marketing PSU HPCL is planning to invest Rs 61,000 crore over the next five years to scale up its business operations to tap the huge energy demand in the country. In the last one year, the company’s shares have spiked over 70 per cent amid the talks of its merger with exploration giant Oil and Natural Gas Corp (ONGC). The Navratna PSU will invest more Rs 7,110 crore in the current fiscal, which is 11 per cent of the total planned capex of Rs 61,000 crore in five years ending 2022. The company’s capex stood at Rs 5,860 crore in the last fiscal. “With a huge...

Monday, September 18, 2017

No new investment in SAIL, RINL till project completion: Govt

Steel Minister Birender Singh
THE Centre has ruled out any fresh investment in PSU steel majors SAIL and RINL before the completion of existing projects and earning returns from investment. Union Steel Minister Chaudhary Birender Singh had earlier pulled up India’s largest steelmaker, Steel Authority of India (SAIL), for slow progress in modernisation and capacity ramp-up.
When asked if the steel companies are planning any fresh investments, Steel Secretary Aruna Sharma said, "For the coming three years, they (SAIL, RINL) must complete...