Engineers India, Oil India rise on bid for BPCL's stake in refiner

Engineers India

19/02/2021 05:46

** Shares of Engineers India  ENGI.NS  and Oil India
 OILI.NS  gain as much as 3.4% and 4.2%, respectively 
    ** ENGI, in consortium with OILI, to bid for Bharat
Petroleum Corporation's  BPCL.NS  61.65% stake in Numaligarh
Refinery  urn:newsml:reuters.com:*:nFWN2KO13S
    ** BPCL shares up as much as 1.3%
    ** Numaligarh Refinery is public sector oil co in
north-eastern Indian state of Assam, with revenue of 140.73 bln
rupees ($1.94 bln) in FY 2020
    ** OILI will have majority stake, while ENGI will be
minority stakeholder
    ** Deal value to be finalized on closing 
    ** In 2020, ENGI stock fell 20.9%, OILI slid 29.8%, BPCL
dropped 22.5%



($1 = 72.5440 Indian rupees)

 (Reporting by Anuron Kumar Mitra in Bengaluru)
 ((AnuronKumar.Mitra@thomsonreuters.com; +91 99863 58469;))