Reliance buys ( oil retailer GAPCO )

By CROW -
By Economictimes

Reliance Industries said on Tuesday it had bought a majority stake and management control of east African oil retailer Gulf Africa Petroleum Corp (GAPCO) for an undisclosed sum.

The company said in a statement that GAPCO was a strategic acquisition which would give it access to the rapidly growing economies of east Africa, where demand for petroleum products is rising. "These markets are easily accessible from India and in that sense provide a strategic fit for exports from India," it said.

GAPCO owned and operated large storage terminalling facilities and a retail distribution network in countries including Tanzania, Uganda and Kenya, Reliance said. It said GAPCO had more than 250 outlets catering to retail and industrial segments.

Comments

  1. AnonymousSeptember 4, 2007 at 1:26 PM

    Do we need to invest more in Reliance

    ReplyDelete
  2. CROWSeptember 17, 2007 at 10:19 AM

    yes !! Reliance Pet is very good long term stock.

    ReplyDelete

Post a Comment

Popular posts from this blog

Stock Buzz Jan 14th 2010

By CROW -
02:23 PM Thursday , 14 January It is a steady session for our market. Sensex is trading at 17,601, up 90 points and Nifty is at 5,264, up 30 points from the previous close. Source : IRIS 01:51 PM Thursday , 14 January Our market is seeing some turbulence and trending little lower. But the midcap out performance continues. Sensex is trading at 17,540, up 30 points and Nifty is at 5,246, up 12 points from the previous close. Source : IRIS 01:50 PM Thursday , 14 January The market is trading firm. Sensex is trading at 17,588, up 78 points and Nifty is at 5,262, up 28 points from the previous close. Source : IRIS 01:49 PM Thursday , 14 January At this hour the market has come off the morning`s high but still trading with gains. Asian markets are also looking firm. Sensex is trading at 17,569, up 59 points from its previous close, and Nifty is at 5,257, up 23 points. Source : IRIS 09:46 AM Thursday , 14 January The market opens on a reasonably strong note. Earlier, the
Read more

How OBAMA stimulus bill affects you

By CROW -
Image
Part 2 Contd ....   Environment The package includes $9.2 billion for environmental projects at the Interior Department and the Environmental Protection Agency. The money would be used to shutter abandoned mines on public lands, help local governments protect drinking water supplies, and erect energy-efficient visitor centers at wildlife refuges and national parks. The Interior Department estimates that its portion of the work would generate about 100,000 jobs in the next two years. Yet the plan will make only a dent in the backlog of cleanup projects facing the EPA and in the long list of chores at the country's national parks, refuges and other public lands. Talk back: How will you use your tax refund? The plan sets aside $735 million for road repairs and maintenance at national parks. But that's just a fraction of the $9 billion worth of work waiting for funding. At the EPA, the payout is $7.2 billion. The bulk of the money will help local communities and states
Read more

Take care of your parents. THEY ARE PRECIOUS.

By CROW -
This was narrated by an IAF pilot at a Seminar recently on Human Relations : Venkatesh Balasubramaniam (who works for IIT) describes how his gesture of booking an air ticket for his father, his maiden flight, brought forth a rush of emotions and made him (Venkatesh) realize that how much we all take for granted when it comes to our parents. My parents left for our native place on Thursday and we went to the airport to see them off. In fact, my father had never traveled by air before, so I just took this opportunity to make him experience the same. In spite of being asked to book tickets by train, I got them tickets on Jet Airways . The moment I handed over the tickets to him, he was surprised to see that I had booked them by air. The excitement was very apparent on his face, waiting for the time of travel. Just like a school boy, he was  preparing himself on that day and we all went to the airport, right from using the trolley for his luggage, the baggage check-in and asking for
Read more