Strategic sale of HPCL, BPCL stake proposed

The Government is considering a proposal to disinvest part of its equity in two state-owned refining companies — Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL) — through the strategic sale route, according to senior Ministry of Disinvestment officials. A formal proposal to this effect has been sent across to the Petroleum Ministry. The Disinvestment Ministry has built a case of divestment of Government equity in these companies on the grounds that the administered pricing mechanism is being dismantled in April 2002.

25 pc mobile market in Batata-BPL pocket

The Batata-BPL combine has cornered the highest cellular market-share across the country, accounting for 25 per cent of the total mobile subscribers by end-September 2001. The group has notched up 11.74 lakh subscribers, leading its closest competitors Hutchison by over 1.6 lakh and Bharti by 2.2 lakh subscribers. While Hutchison accounts for 10.10 lakh subscribers, Bharti has managed 9.54 lakh subscribers.

Enron: Maharashtra to move London court in a week

Maharashtra will move the Commercial Court of London "within a week" against the injunction obtained by Enron's Dabhol Power Company (DPC) restraining the State from challenging international arbitration initiated by DPC in any Indian court, the Chief Minister, Mr Vilasrao Deshmukh, told newspersons. He was speaking at a post-cabinet meeting press conference here on Wednesday. The Enron-promoted DPC had obtained the ex-parte order on October 11, 2001. The State Government had 23 days to respond to the order.

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