Name: Govt extends deadline for BPCL bids due to Covid-19
Uploaded: 2020-05-28T03:36:46.fff+05:30
Duration: T00M27S
Channel: editorji
Description: The government has extended the time for interested parties to submit their bids for BPCL by two months due to the Covid-19 pandemic. Bidders now have to submit their 'expression of interest' by July 31. The government had in March invited bids to sell its 53% stake in BPCL, the country's second-largest oil retailer, as part of the efforts to speed up the privatisation process.

The government has extended the time for interested parties to submit their bids for BPCL&nbsp;by two months due to the Covid-19 pandemic. Bidders now have to submit their 'expression of interest' by July 31. The government had in March invited bids to sell its 53% stake in BPCL, the country's second-largest oil retailer, as part of the efforts to speed up the privatisation process.&nbsp;

The government has extended the time for interested parties to submit their bids for BPCL by two months due to the Covid-19 pandemic. Bidders now have to submit their 'expression of interest' by July 31. The government had in March invited bids to sell its 53% stake in BPCL, the country's second-largest oil retailer, as part of the efforts to speed up the privatisation process.

Vedanta will be dropped from the Nifty 50 index and other indices from July 31 as the&nbsp;company&nbsp;proposed voluntary delisting. In its place, HDFC Life Insurance Company will be included in the Nifty 50 index. Apart from that, SBI Cards and Payment Services would replace Vedanta in Nifty 500, Nifty 200, Nifty 100&nbsp;and Nifty Midcap 250 indices.

American&nbsp;tech giant&nbsp;Intel will invest ₹1,894&nbsp;crore in Reliance Industries' Jio Platforms, making it the twelfth high-profile investment in the firm in less than three months. As per the deal, Intel will have 0.39% stake in RIL's digital arm. The Intel deal values Jio Platforms at an equity value of ₹4.91 lakh crore and an enterprise value of ₹5.16 lakh crore.
&nbsp;

Indian equity&nbsp;markets opened higher on Friday following positive global&nbsp;cues.
At 9:25 am, the Sensex was 225 in the green at 36,069 and the Nifty was trading above 10,600, rising 0.56%.
Tata Motors, UPL, Axis Bank, BPCL&nbsp;and L&amp;T were the top Nifty movers.
&nbsp;

Moody's Investors Service on Thursday said the amendments to India's bank resolution framework are credit positive as they will help preserve depositor confidence. On June 26, the government amended the Banking Regulation Act, 1948, allowing the Reserve Bank of India&nbsp;to initiate the resolution of a weak bank by reconstructing its capital or merging it with another bank without the prior requirement of imposing a moratorium on its depositors or creditors.
&nbsp;

Indian stock markets ended with a strong note on Thursday tracking&nbsp;global cues.
The Sensex&nbsp;jumped 429 points and the Nifty closed 1.17% higher at 10,551.
M&amp;M, Hero Moto&nbsp;Corp, Cipla, Titan and HCL&nbsp;Tech were the top Nifty movers.
The rupee appreciated 56 paise to settle at 75.04 against the US dollar.&nbsp;

Tesla stock surged on Wednesday in US trading, surpassing Toyota as&nbsp;the most valuable carmaker in the world. Shares of the American electric vehicle manufacturer climbed by 5% in early trading to a record $1,133, giving the company a market value of $209.5 billion.&nbsp;Toyota is valued at $202 billion.

Equity markets surged in the opening trade on&nbsp;Thursday led by positive global cues and banking stocks.
At 9:20 am, the Sensex was 300 points higher and the Nifty was trading above 10,500, rising 0.76%.
M&amp;M, Bajaj&nbsp;Finance, ONGC, L&amp;T and IndusInd&nbsp;Bank were the top Nifty gainers. 46 out of 50 stocks in the Nifty&nbsp;index were in the green.

The Reserve Bank of India on Wednesday said the government has approved a special liquidity scheme for NBFCs&nbsp;and HFCs&nbsp;to improve their liquidity position. This will help in avoiding any potential systemic risks to the financial sector. The Special Purpose Vehicle or&nbsp;SPV will purchase the short-term papers from eligible NBFCs/HFCs, who shall utilise the proceeds under this scheme solely for the purpose of extinguishing existing liabilities.

Gold prices in India on Wednesday hit fresh record highs, tracking higher global rates. On MCX, August gold futures rose 0.4% to&nbsp;₹48,982 per 10 gram while silver futures were up 0.8% to&nbsp;₹50,779 per kg. In global markets, gold prices edged closer to near an eight-year high&nbsp;as demand for the safe-haven metal was boosted by worries about the global economic impact of surging coronavirus infections in many countries.
&nbsp;

Equity markets surged on Wednesday following positive global peers. Banking and financial stocks were the market movers.
The Sensex&nbsp;jumped 500 points and the Nifty rose 1.24% to end the session at 10,430.
Axis Bank, UPL, Bajaj&nbsp;Finserv, HDFC and ITC were the top Nifty gainers.
The rupee settled 9 paise lower at 75.60 against the US dollar.

Vodafone Idea&nbsp;on Wednesday reported a staggering ₹73,878 crore of net loss in fiscal ended March 2020. This is the highest ever loss by any Indian firm after the country's third largest telecom&nbsp;operator provisioned for Supreme Court mandated statutory dues of ₹51,400 crore.&nbsp;Revenue from operations for the March quarter came in at ₹11,754&nbsp;crore. The revenue from operations for full year FY20 stood at ₹44,957&nbsp;crore. The same was ₹37,092&nbsp;crore in FY19.

Indian equities opened in the green on Wednesday following positive global cues.
At 9:35 am, the Sensex was 200 points up and the&nbsp;Nifty was 0.40% higher at 10,343.
UPL, ITC, Axis Bank, BPCL&nbsp;and HDFC were the top gainers.

Bharti&nbsp;Airtel will sell a 25% stake in its data centre business for $235 million to Carlyle Group. As per the exchange filing,&nbsp;Carlyle Group will make the investment in Bharti Airtel's Nxtra Data at a valuation of $1.2 billion. Bharti&nbsp;Airtel&nbsp;will continue to hold the remaining 75% stake.

Indian equities pared morning gains on Tuesday dragged by pharma and PSU&nbsp;bank stocks. Investors were also cautious ahead of PM Modi's address to the nation.
The Sensex&nbsp;closed 45 points down at 34,915 and the Nifty ended the day almost flat at 10,300.
BPCL, Powergrid, Sun Pharma, GAIL and IOC were the top Nifty losers. Whereas, Shree&nbsp;Cements, Maruti, ICICI&nbsp;Bank, Nestle India and Britannia were the top gainers.
The rupee settled 7 paise higher at 75.51 against the US dollar.

Indian equity markets opened higher on Tuesday following gains in global peers.
At 9:25 am, the Sensex&nbsp;was 165 points in the green and the Nifty was trading at 10,379, up 0.65%.
Tata Steel, Hindalco, Tata&nbsp;Motors, UPL&nbsp;and Vedanta were the top Nifty gainers.

Stock markets surged on Tuesday following strong global cues and heavy gains in banking and financial stocks.
The Sensex&nbsp;ended the session 519 points in the green and the Nifty jumped 1.55% to end the day at 10,471.
Bajaj&nbsp;Finance, L&amp;T, IndusInd&nbsp;Bank, NTPC and Hindalco&nbsp;were the top Nifty gainers.
The rupee appreciated 37 paise to close at 75.66 against the US dollar.

Equity markets opened higher on Tuesday led be gains in PSU&nbsp;banks and metal stocks.
At 9:20 am, the Sensex was 142 points in the green at 35,053 and the Nifty was 0.5% up at 10,362.
IndusInd&nbsp;Bank, Bajaj&nbsp;Finance, UPL, Coal India and Bajaj&nbsp;Finserv&nbsp;were the top five index movers.

Reliance Industries' market cap has crossed ₹11 lakh crore mark on Friday after its stocks&nbsp;surged 8% during the day. The scrips&nbsp;of RIL&nbsp;hit a fresh record high of ₹1,788.60 apiece to touch a market cap of over ₹11.30 lakh crore on the BSE. The stock has been doubled from its March low of ₹867.82.

Indian equity benchmarks surged more than 1.5% on Friday supported by a massive 6.5% rally in the index-heavyweight Reliance Industries. Asian and European markets were also in the green.
The Sensex&nbsp;ended the day 523 points higher and the Nifty closed at 10,244 after rising 1.51%.
Bajaj&nbsp;Finserv, Bajaj&nbsp;Finance, Reliance, Tata&nbsp;Motors and Infratel&nbsp;were the top five Nifty gainers.
The rupee settled 6 paise lower at 76.20 against the US dollar.

Indian stock markets opened in the green on Friday following Asian peers.
At 9:45 am, the Sensex was 72 points up and the Nifty was 0.24% high at 10,115.
Bajaj&nbsp;Finance, Bajaj&nbsp;Finserv, ONGC, GAIL and Reliance were the top five Nifty gainers.

editorji

follow us

download editorji app

home > markets > Govt extends deadline for BPCL bids due to Covid-19

replay trump newslist

up NEXT IN 5 SECONDS sports newslist

NaN/0

Govt extends deadline for BPCL bids due to Covid-19

May 28, 2020 15:36 IST

share this news

explore newslists

International

Lifestyle

Hollywood

Sports

Viral

Tech

National

Showbiz

Travel

Local

Markets

Jul 03, 2020 18:40 IST

Jul 03, 2020 11:50 IST

Jul 03, 2020 10:50 IST

Jul 02, 2020 20:10 IST

Jul 02, 2020 20:10 IST

Jul 02, 2020 20:16 IST

Jul 02, 2020 20:17 IST

Jul 02, 2020 20:23 IST

Jul 02, 2020 20:24 IST

Jul 02, 2020 20:24 IST

Jul 02, 2020 20:26 IST

Jul 02, 2020 20:29 IST

Jul 02, 2020 20:30 IST

Jul 02, 2020 20:35 IST

Jul 02, 2020 20:41 IST

Jul 02, 2020 21:50 IST

Jul 02, 2020 21:56 IST

Jul 02, 2020 22:29 IST

Jul 02, 2020 22:29 IST

Jul 02, 2020 22:33 IST

follow editorji

download editorji

editorji

About Us

Reach us

Navigate

home
> markets
> Govt extends deadline for BPCL bids due to Covid-19