Reliance Industries Ltd.

Country’s two largest refiners, Reliance Industries (RIL) and its PSU peer Indian Oil Corporation (IOC), are in a race to buy out the West Bengal government's 31% stake in the beleaguered Haldia Petrochemicals (HPL) and an expression of Interest (EOI) has been submitted towards the same.

Besides two of country’s largest refiners, state-owned oil major ONGC, gas major GAIL India and private firms like Anil Agarwal-led Vedanta Resources via its subsidiary Cairn India and Naveen Jindal's Jindal Steel & Power are eyeing 31% stake in HPL. Nevertheless, Purunendu Chatterjee-led The Chatterjee Group (TCG), a joint promoter of HPL, will have a right of first refusal to match the highest bidder.