India Refiner HPCL Sees More Scope For Foreign Buys After ONGC Deal
by Reuters
|
Nidhi Verma | Thursday, July 20, 2017 | 3:51 PM EST
The merger of MRPL and HPCL will depend on approval by the boards of the two companies. No timeline has been fixed for integration of the two companies, he added.
The government has not yet decided at what price its will sell HPCL's shares to ONGC. Surana feels that share price of his firm do not reflect the true 'intrinsic value' and should not be sold at a discount to market price.
($1 = 64.4300 Indian rupees)
(Reporting by Nidhi Verma; Editing by Keith Weir)
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