Taking into account the fact that the acquirer of HPCL would get a direct entry into lucrative petro-product retail marketing, sources associated with the Disinvestment process said that bids could be possibly in the range of Rs 700 a share.

Government would offer about 11.5 crore share out of its holding of around 17.4 crore shares in HPCL to the strategic buyer and even at the present market rate, which does not take into account the strategic importance and control premium it could mean about Rs 3,500 crore.

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"We would like to reach two-wheeler owners and offer them a product through our 'True Value' outlets with guarantee and warantee," MUL Managing Director Jagdish Khattar told PTI claiming that as such Maruti-800 had "motorised" India.


"Why ask about Maruti-800, we are going to offer product even below Rs 2 lakh," he said when asked about the future of entry level car and added that the initiative was aimed at not only upgrading the existing Maruti customers but to add on new ones by offering them MUL products at affordable price.


"Why ask about Maruti-800, we are going to offer product even below Rs 2 lakh," he said when asked about the future of entry level car and added that the initiative was aimed at not only upgrading the existing Maruti customers but to add on new ones by offering them MUL products at affordable price.

At the same time he offered Maruti owners to drive in to any of the 24 operational outlets from today with their mid size Esteem car to obtain premium car Baleno in exchange and said that only Maruti, with a vehicle population of around 38 lakhs on Indian roads could offer upgradation facilities.



"MUL's pre-owned car will be priced between Maruti 800 and two-wheelers. We target to open 50 such outlets by March and raise the number to 100 by the year end," Khattar said. Bureau Report