BPCL Fetches Dividend of Over 6,000 Crore to the Govt

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BPCL Fetches Dividend of Over 6,000 Crore to the Govt

By Malvika Gurung

Investing.com -- The privatisation-bound petroleum refinery Bharat Petroleum Corporation Ltd (NS: BPCL ) has fetched the government a final dividend of Rs 6,665 crore for fiscal 2021-2022.

The Secretary of DIPAM Tuhin Kanta Pandey informed through a tweet on Wednesday, about the Government receiving the final dividend of Rs 6,665 crore.

He added that the dividend value includes the special dividend, which was gained especially on the sale of BPCL's stake in Numaligarh Refinery in March 2021.

As a part of the Government’s disinvestment drive of Rs 1.75 lakh crore, BPCL had sold all of its 61.5% stake in the Government of Assam and Oil India (NS: OILI ) owned Numaligarh Refinery in Assam for Rs 9,876 crore.

The government holds a 52.98% stake in BPCL and as a part of its disinvestment drive, it will divest 100% of its stake in the oil refiner.

The public sector undertaking is struggling to finalise partners and ‘sell its financial risks’, amid increasing crude oil prices globally, states a source.

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  • mk mk @mk mk
    666 number of the beast. Stock trading at 420. Down 6.9. Universe sure has a way of joking? what is the probability of all those happening together?
    Like 0
  • iftekhar ahmed Bepari @iftekhar ahmed Bepari
    in the article somewhere it's mentioned 6k+crores and somewhere only 6.6cr, what confusing
    Like 0
  • Trading is Art To Win Global @Trading is Art To Win Global
    accumulate 1050
    Like 0
  • Rahul Chauhan @Rahul Chauhan
    what about the Axis Bank
    Like 2

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