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BPCL acquires additional stake in Petronet CCK

30 May 2015 Evaluate

Bharat Petroleum Corporation (BPCL) has acquired additional 1.99 crore equity shares of Rs 10 each of Petronet CCK (PCCKL) (constituting 19.97% of the paid-up equity share capital of PCCKL) from a financial investor of PCCKL. With this acquisition, PCCKL is now a subsidiary of BPCL with the latter holding 68.97%. PCCKL owns and operates a petroleum product pipeline from Kochi to Karur in Tamil Nadu via Coimbatore for transportation of petroleum products. The present installed capacity of the pipeline is 3.3 Million Metric Tonnes per annum (MMTPA).

BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.

Peers
Company Name CMP
Reliance Industries 1186.10
Indian Oil Corpn. 130.70
Bharat PetroleumCorp 296.50
HPCL 343.10
MRPL 172.60
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