HPCL, ONGC merger wouldn’t bring synergy: Ambit Capital

Acquisition of government stake in HPCL by ONGC wouldn’t bring much synergy benefits to the two companies but would, instead, result in the weakening of high-performance culture at the target company, Ambit Capital has said in a report. “ONGC parentage could mean interference (from ONGC or government), highly probable participation in upstream and, more importantly, […]