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ONGC, Oil & natural gas corporation, HPCL,News

ONGC Wants Shareholders' Approval for HPCL Deal

State-owned Oil and Natural Gas Corp (ONGC) to buy 51.11 percent stakes in Hindustan Petroleum Corp Ltd (HPCL) for Rs 36,915 crore. The acquisition fell in the definition of related party transaction for which shareholder nod is needed as per law, the company said in a shareholder notice seeking approval for the deal through a postal ballot.

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