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India to Raise 77% Oil Refining Capacity by 2030

India plans to raise its oil refining capacity by 77% to 438.65 million tonnes by 2030 with Reliance Industries and Rosneft-controlled Essar Oil adding the biggest chunk, reported PTI. The country currently has the capacity to turn 247.6 MT crude oil ...

CAG flays govt's fuel pricing policy

The CAG castigated government's fuel pricing policy saying it gave undue benefit of Rs 667 crore to Essar Oil and Reliance Industries, and called for renegotiating rates at which diesel is bought from private refiners. State-owned fuel retailers buy diesel ...

Essar stocks slip on BSE; CBI files second chargesheet

Essar stocks fell on the bourses as Central Bureau of Investigation (CBI) has filed second chargesheet against five executives at Essar group. There is a free fall in the stocks of Essar Oil, Essar ports, Essar shipping. On Tuesday morning, ...

Piramal Healthcare buy Vodafone stake from Essar. What does it mean for its shareholders'?

Piramal Healthcare, owned by Ajay Piramal will buy 5.5% stake in Vodafone - Essar for approximately $640 million. Piramal Holding will buy the stake from Essar Teleholdings, which holds about 11.1% stake in the company. Rajesh Ladha, CFO Piramal Healthcare, ...

The Supreme Court begins Vodafone hearing

The final hearing of the British telecom giant Vodafone ultimately began on Wednesday. Vodafone filed a petition in Supreme Court against against Indian tax authorities on its $11.2 billion (Rs 49,728 crore) buy out of Hutchison's 67% stake in Essar-Hutchison's joint ...

Vodafone plans to sell stake of its Indian Arm

After acquiring the stake of Essar Group, British telecom operator Vodafone is in now hunting for new partners to sell stake of its Indian arm. It is in talks with at least two unnamed private equity players about the issue, Economic ...