Centre to infuse equity in 3 OMCs after they announce capex plans: Report

Centre is looking to infuse more equity and a possible stake increase in three oil marketing companies (OMCs), Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), after they submit their capital investment plans, a report by The Economic Times (ET) said.

A government official was quoted in the report as saying that the Centre has set aside Rs 30,000 crore for capital support to these OMCs. The instruments through which equity will be infused have not been finalised.

OMCs, however, are concerned that equity infusion might impact their share price, market valuation and market perception.