Public sector undertakings (PSUS) Oil and Natural Gas Corporation (ONGC) and Hindustan Petroleum Corporation (HPCL) have been developing synergies since the former bought the government stake in HPCL in a *36,000-crore deal over three years ago.
Unresolved issues, however, continue to remain with the two PSUS, which work under the administrative control of the Union Ministry of Petroleum and Natural Gas.
According to officials, the ONGC management is unhappy because the purchase of the government stake in HPCL has left the oil exploration major with a tight cash position and despite holding a controlling stake in HPCL, it has no managerial control of the company.
The Centre, through the Public Enterprises Selection Board (PESB), continues to recommend appointments to senior positions in HPCL without consulting ONGC, said an official.
هذه القصة مأخوذة من طبعة November 15, 2021 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة November 15, 2021 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
10 Stocks That Get Institutional Seal Of Approval
Equity investments by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) in the Indian market have shown a mixed trend over the past six months.
G7's coal phaseout move may impact COP29, G20 talks
The Group of Seven (G7) developed economies, ☐ in the recent meeting of its Climate, Energy, and Environment Ministerial, has decided to phase out unabated coal during the first half of the 2030s.
Small (car) is beautiful
The Indian passenger vehicle industry has had a stellar year.
Declare chronic ailments with insurers willing to cover them
By paying extra premium, you can reduce waiting period for pre-existing conditions
Deal valuations weigh on Apollo Hospitals stock
Brokerages believe the transaction is positive despite valuation concerns
Havells: Positive outlook priced in
Good results for the January-March quarter (Q4) of the financial year 2023-24 (FY24) and the promise of seasonal demand for cooling have led to a positive outlook on Havells.
BSE now corners a fifth of derivatives mkt share
From 0 to 21% in less than a year, the bourse is making further strides
Unfavourable conditions
Workplace culture remains hostile for women
A Chinese invasion of the auto landscape
As seen in Australia, tariff cuts may have an unwelcome outcome for domestic car makers
Dr Subbarao's book of revelations
In 1974, a bright young assistant collector from the Indian Administrative Service (IAS) did something that, by his own admission, was not straightforward.