Flagship explorer ONGC will retain Hindustan Petroleum as an independent group arm and continue with the company’s brand after acquiring the government’s stake in the country’s third-largest state-run refiner-retailer. “HPCL is a good, professionally-run company and will continue to remain so. We also do not have any plan to tinker with its employee package, etc,” ONGC chairman Shashi Shanker said on Sunday, a day after the government accepted its Rs 36,915-crore cash offer to buy the Centre’s 51.11% holding in HPCL.
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