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BPCL to sell entire stake for Rs 9,876 crore

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Bharat Petroleum Corporation Ltd. (BPCL) will sell a stake in Numaligarh Refinery for Rs 9,876 crore. BPCL announced the exit from Numaligarh Refinery Ltd in Assam on Monday. BPCL said that it would hold its entire stake in Numaligarh Refinery, Oil India Ltd. (OIL) and Engineers India Ltd. (EIL) will sell the alliance for Rs 9,876 crore. Numaligarh Refinery Ltd. The sale will pave the way for the privatization of the country’s second-largest retail fuel company. It is known that the government is preparing to privatize BPCL. Oil India Ltd., Engineers India Ltd., And the Assam government have shown interest in buying this stake. The board of directors of BPCL approved the sale on Monday.

In a communication sent to the stock exchanges, the company said, “BPCL’s board approved a proposal to sell entire 445.35 crore equity shares of BPCL to NIL and ELI and Assam government in NRL in a meeting held on March 1, 2021. The stake will be sold for Rs 9875.96 crore.

After the sale of NRL, BPCL will have three refineries at Mumbai, Kochi (Kerala) and Bina (Madhya Pradesh). The government is going to sell its entire 52.98 percent stake in BPCL. It is being called the biggest privatization of today.

Government Numaligarh Refinery Ltd. (NRL) has been decided to be placed in the public domain under the Assam Peace Accord. Under this, BPCL will sell its entire 61.65 percent stake in NRL to public sector companies. OIL and Engineers India Ltd. The alliance will probably acquire a 49 percent stake. The remaining 13.65 percent stake will be held by the Assam government. NRL operates a 3 million tonne per annum oil refinery in Assam. OIL currently has a 26 percent stake in NRL. The Assam government holds a 12.35 percent stake in it.

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Maruti Suzuki five seater to be launched in India soon

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The Jimny has been around long enough in global markets for it to be time for a mid-life nip and tuck, but more importantly this also means that the 5-door Jimny is one step closer to making it to reality. The 5-door Jimny, introduced to India as the Sierra at the 2020 Auto Expo is ear-marked for India. Recent spy-shots reveal a few more details of the India bound SUV.

Like the Jimny Sierra, the 5-door version of the Jimny will be about 300mm longer than the 3-door both in terms of wheelbase and length. The Jimny 5-door will measure in at 3,850mm in length, 1,645mm in width and 1,730mm in height and a wheelbase of 2,550mm. Like the 3-door the Jimny 5-door will have a ground clearance of 210mm and weigh in a 1190kg, 100 more than the 3-door. In the India perspective, this means that the Jimny will come in under the 4-meter mark, although the 1.5 liter petrol motor in the Jimny is likely to negate the benefit of its overall length in terms of taxation.

In global markets the K15B 1.5 litre petrol is rated for 102bhp, although it will be interesting to see if Maruti Suzuki opt for the mild-hybrid powertrain that usually accomanies this motor in India. At present Maruti Suzuki uses this motor with the smart hybrid system in the Vitara Brezza, the S-Cross, the Ciaz as well as the Ertiga. It is likely that the Jimny 5-door will use the same 5-speed manual and 4-speed torque converter that we’ve seen on all the above cars.

Now it is likely that the 5-door Jimny will debut alongside the 3-door Jimny facelift globally with similar cosmetic tweaks. India has already been manufacturing the Jimny 3-door for export markets for some time now, and now we can confirm that the 5-door has been earmarked for a launch in India shortly after the global launch, either by the end of 2021 or early next year.

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