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BPCL to pay shareholders from Rs 9,876 cr Numaligarh Refinery stake sale

Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) may use Rs 9,876 crore proceed from stake sale in Numaligarh Refinery to pay a special dividend to shareholders, the biggest being Government of India, BPCL director (finance) N Vijayagopal said. The Board of BPCL on Monday approved the sale of the company's 61.65 per cent stake in Numaligarh Refinery Ltd (NRL) to a consortium of state-owned Oil India, consultancy firm Engineers India Ltd (EIL) and Government of Assam for Rs 9,875.96 crore. The offer by the OIL-led consortium was "above the reserve price we had set for the stake sale," he told reporters

Jagran Prakashan board approves share buyback worth up to Rs 118 crore

Jagran Prakashan, the publisher of leading Hindi daily Dainik Jagran, on Tuesday said its board has approved buying back shares worth up to Rs 118 crore. "The board of directors of the company... approved the buyback of the company's fully paid-up equity shares of face value of Rs 2 each for an aggregate amount not exceeding Rs 118 crore... and at a price not exceeding Rs 60 per equity share payable in cash, from its shareholders/ beneficial owners (other than those who are promoters, members of the promoter group or persons in control), from the open market through stock exchange mechanism," it said in a regulatory filing.

Airtel buys Rs 18,699-cr radiowaves; Voda acquires spectrum in 5 circles

Bharti Airtel on Tuesday said it has picked up radiowaves worthRs 18,699 crore in just-concluded auction, while rival Vodafone Idea said spectrum acquired by it in five circles will help boost 4G coverage and capacity. The auction, which put on offer a total of2308.80 MHz of spectrum worthRs 4 lakh crorein seven bands, concludedon Tuesday, just a day after it commenced. Airtel, in a statement, said it hasacquired radiowaves worthRs 18,699 crore entailing 355.45 MHzspectrum across Sub GHz, mid band and 2300 MHz bands, arming it with "most formidable" spectrum holding in the country.

Spectrum auctions: Jio says total owned airwaves footprint up significantly

India's largest telecom operator, Reliance Jio, on Tuesday said it has successfully acquired spectrum in all 22 circles in the just-concluded auctions, and that its owned radiowave footprint has risen "significantly" by 55 per cent through the acquisition. Jio - which emerged as the top buyer picking up spectrum for Rs 57,122.65 crore in the auctions - said it has well-balanced spectrum for services and future upgradation to 5G technology

Bajaj Auto launches new Platina 100 Electric Start at Rs 53,920

Bajaj Auto on Tuesday said it has launched the new version of its 102 cc bike Platina 100 Electric Start (ES) priced at Rs 53,920 (ex-showroom Delhi). The bike comes with spring-in-spring suspension that provides more comfort on longer journeys, further strengthening the promise of comfort for both the rider and the pillion. It also comes equipped with tubeless tyres, assuring a safe and hassle-free ride. "The brand Platina has an unmatched proposition of comfort with over 7 million satisfied customers as a testament to its segment-leading attributes," Bajaj Auto Head of Marketing Narayan Sundararaman said in a statement

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