1. 670
(This document comprises news clips from various media in which Balmer Lawrie is mentioned, news
related to GOI and PSEs, and news from the verticals that we do business in. This will be uploaded on
intranet and website every Monday.)
World Bank sees India's GDP growing at
8.3% in FY22, upgrades FY23 forecast
The World Bank on Tuesday retained its forecast
for India's GDP growth for FY22 at 8.3%,
according to its global economic prospectus
report. The World Bank's projections come after
India's government advance estimates projected
India's GDP to grow at 9.2% in the current
financial year ending March 2022. The global
agency further its forecasts for economic growth
in the United States, the Euro area and China and
warned that high debt levels, rising income
inequality and new Covid-19 variants threatened
the recovery in developing economies. It said
global growth is expected to decelerate
"markedly" to 4.1% in 2022 from 5.5% last year,
and drop further to 3.2% in 2023 as pent-up
demand dissipates and governments unwind
massive fiscal and monetary support provided
early in the pandemic. The forecasts for 2021 and
2022 were 0.2 percentage points lower than in the
bank's June Global Economic Prospects report. The
International Monetary Fund is also expected to
downgrade its growth forecasts in its update on 25
January.
Mint - 12.01.2022
https://www.livemint.com/economy/world-bank-
sees-india-s-gdp-growing-at-8-7-in-2022-cuts-
global-growth-11641912031735.html
World Bank downgrades 2022 global
economic growth forecast to 4.1%
The global economy is on track to grow by 4.1
per cent in 2022, down 0.2 percentage point
from a previous projection, the World Bank
Group said in its latest Global Economic
Prospects release. "The global recovery is set to
decelerate markedly amid continued Covid-19
flare-ups, diminished policy support, and
lingering supply bottlenecks," the semi-annual
report added on Tuesday. The global outlook is
"clouded by various downside risks," including
renewed Covid-19 outbreaks due to new virus
variants, the possibility of unanchored inflation
expectations, and financial stress in a context of
record-high debt levels, according to the report.
After rebounding to an estimated 5.5 per cent
in 2021, global growth is expected to decelerate
markedly to 4.1 per cent in 2022, the report
noted. The latest projection for 2021 and 2022
is 0.2 percentage point lower than the June
forecast, respectively. The report also noted
that the Covid-19 pandemic has raised global
income inequality, partly reversing the decline
that was achieved over the previous two
decades, Xinhua news agency reported.
Business Standard - 12.01.2022
https://www.business-
standard.com/article/international/world-bank-
downgrades-2022-global-economic-growth-
forecast-to-4-1-122011200087_1.html
India’s economy recovery on ‘solid path’
amid rapid vaccination progress,
forecast to grow 6.5 per cent in FY 2022:
UN
India is forecast to grow at 6.5 per cent in fiscal
year 2022, a decline from the 8.4 per cent GDP
estimate in previous financial year, and while the
country’s economic recovery is on a “solid path”
amid rapid vaccination progress, coal shortages
and high oil prices could put the brakes on
economic activity in the near term, the UN said on
Thursday. The flagship United Nations World
Economic Situation and Prospects (WESP) 2022
report, launched here, said that India’s GDP is
forecast to grow at 6.5 per cent in fiscal year 2022,
a contraction from the estimated growth of 8.4 per
UBS slashes FY22 GDP forecast by 40
bps to 9.1 pc; ups projection for FY23
to 8.2 per cent
Citing the massive surge in Omicron infections
and the resultant impact on overall economic
activities in the March quarter, Swiss brokerage
UBS Securities has revised downwards its
India's growth forecast for the current financial
year to 9.1 per cent from 9.5 per cent earlier.
However, UBS Securities does not see the third
wave impact extending to the next financial
year as it has revised upwards its real GDP
forecast to 8.2 per cent, up from 7.7 per cent
earlier, expecting the real GDP growth to
remain well above the historical average. The
World Bank pegs it at 8.3 per cent, unchanged
WEEKLY MEDIA UPDATE
Issue 536
17 January, 2022
Monday
2. cent in fiscal year 2021. Growth is projected to
further slow down to 5.9 per cent in the financial
year 2023, the report said. On a calendar year
basis, the report says that India’s GDP is projected
to expand by 6.7 per cent in 2022 after a 9 per
cent expansion in calendar year 2021, as base
effects wane. GDP growth for the country is
forecast to slow down to 6.1 per cent in calendar
year 2023, the report said.
The Financial Express - 14.01.2022
https://www.financialexpress.com/economy/india
s-economy-recovery-on-solid-path-amid-rapid-
vaccination-progress-forecast-to-grow-6-5-per-
cent-in-fy-2022-un/2406804/
from its June assessment, saying the recovery
is not broad-based yet. UBS' estimate is close
to the official NSO forecast released last week
at 9.2 per cent but 40 bps lower than the
Reserve Bank of India's (RBI) latest forecast of
9.5 per cent announced in the December policy
meet, while consensus varies from 8.5 to 9.5
per cent now. The country has been reporting a
massive surge in the coronavirus infections led
by Omicron, the new variant of the virus, which
has risen to the highest level in the past 211
days to 1,94,720 new cases.
The Economic Times - 13.01.2022
https://economictimes.indiatimes.com/news/e
conomy/indicators/ubs-slashes-fy22-gdp-
forecast-by-40-bps-to-9-1-pc-ups-projection-
for-fy23-to-8-2-per-
cent/articleshow/88860008.cms
Survey may lower FY23 growth nos
The Economic Survey that will be presented ahead
of the budget could peg FY23 real economic
growth lower than the 9. 2% estimated for the
current financial year, government officials said.
The Survey is expected to project a strong
recovery post the Omicron wave but statistical
growth is expected lower because of the waning
base effect that has bumped up current year's GDP
growth. The survey for FY22 is likely to be tabled
in Parliament on January 31, a day before the
Union Budget, and may have just one volume
instead of two, which has been the trend for the
past six years. It is likely to stress continuing fiscal
stimulus in FY23 and reiterate that the impact of
the Omicron-led third wave may be limited to the
ongoing quarter of FY22. “The outcome of
structural reforms will be visible from next fiscal
year,” a source told ET. The growth projection
would be in line with forecasts by the Reserve
Bank of India (RBI), global institutions and rating
agencies. Most institutions believe that consumer-
led recovery and easing supply disruptions will
make recovery broad-based.
The Economic Times - 11.01.2022
https://epaper.timesgroup.com/article-
share?article=https://asset.harnscloud.com/Publi
cationData/ET/etkc/2022/01/17/ArticleZoneJson/
007/17_01_2022_007_014_etkc.json
Omicron makes analysts lower growth
forecast
The rapid spread of the Omicron virus has
forced many analysts to lower their growth
forecast for the year. Citigroup Inc, India
Ratings & Research and ICICI Bank have
lowered their gross domestic product estimates
after official NSO data showed the Indian
economy will likely expand 9.2 per cent in the
current fiscal year — slower than the forecasts
of RBI and the IMF of 9.5 per cent growth for
the year. While Citi has reduced its forecast to
9 per cent from 9.8 per cent, ICICI Bank
lowered it to 9.6 per cent from 9.8 per cent.
Indian Ratings and Research has revised
downward its projection to 9.3 per cent from 9.4
per cent and Japanese firm Nomura to 8.7 per
cent from 9.2 per cent. Citi economists Samiran
Chakraborty and Baqar M Zaidi wrote in a
research report economic activity in the last
three months was weak when Omicron made its
entry, though its impact could be less than the
previous waves. Citi has also lowered its growth
forecast for the next fiscal to 8.3 per cent from
8.7 per cent.
The Telegraph - 11.01.2022
https://www.telegraphindia.com/business/omi
cron-makes-analysts-lower-growth-
forecast/cid/1847047
Third wave: Growth to slow down in Q4,
small companies to be hit
With the third wave of the pandemic likely to
disrupt businesses and households, economists
are paring their growth estimates for FY22. The
anaemic growth in factory output in November
may be partly the result of supply shortages and
the recovery may regain momentum in March and
Industry leaders confident about
economic recovery, expansion: Survey
Optimism and confidence are ruling high
amongst Indian businesses as a significant
percentage of industry leaders are positive
about India's economic growth and expansion,
despite the surge in COVID cases, says a
survey. According to the pre-budget survey by
3. April. But for the moment, some retracing of the
demand for services, high inflation could slow
demand and shave off two percentage points of
growth in the March quarter. GDP in Q4 may now
grow only at around 3-3.2%. The big concern is
that manufacturing margins of small firms which
have been squeezed over the last couple of years
could be further hit. The larger listed companies
will continue to do well as they gain market share
and pass on some increase in input costs.
Despatches of two-wheelers in December were
subdued suggesting limited purchasing power with
middle-income households; the dull demand for
tractors indicates rural incomes too may not be as
robust as expected. Indeed, demand could stay
weak in the next few months as 6% retail inflation
leaves prices high and the rising prices of crude oil
adds to price pressures.
The Financial Express - 17.01.2022
https://www.financialexpress.com/economy/third
-wave-growth-to-slow-down-in-q4-small-
companies-to-be-hit/2408025/
Deloitte Touche Tohmatsu India LLP (DTTILLP),
that collated a total of 163 responses from 10
industries, more than 75 per cent respondents
were positive about India's economic growth
and expansion. The survey further noted that
about 91 per cent respondents (compared with
58 per cent last year) believe that the
'Atmanirbhar Bharat' initiative, coupled with
monetary policy actions by the Reserve Bank of
India (RBI) did contribute to bringing the
economy back on track. "They (industry
leaders) expect the Union Budget FY 2022-23 to
build on to this momentum," DTTILLP said in a
release. Finance Minister Nirmala Sitharaman is
scheduled to present the Union Budget in
Parliament on February 1.
Business Standard - 15.01.2021
https://www.business-
standard.com/article/economy-policy/industry-
leaders-confident-about-economic-recovery-
expansion-survey-122011400428_1.html
India better prepared for financial
shocks now: UN
India is better prepared to face financial shocks
than it was during the 2008-09 global financial
crisis, a latest United Nations report said. “While
still vulnerable, India is in a better position to
navigate financial turbulence compared to its
situation during the ‘taper tantrum’ episode after
the 20082009 global financial crisis,” said the
United Nations World Economic Situation and
Prospects (WESP) 2022 report, published on
Friday. The report attributed this position to “a
stronger external position and measures to
minimise risks to bank balance sheets”. The UN,
however, warned that the danger of Covid-19 is
not over yet and with the highly transmissible
Omicron variant, the human and economic toll of
the pandemic is projected to rise.
The Times of India - 15.01.2022
https://epaper.timesgroup.com/article-
share?article=https://asset.harnscloud.com/Publi
cationData/ET/etkc/2022/01/15/ArticleZoneJson/
007/15_01_2022_007_009_etkc.json
Retail inflation jumps to 5-mth high in
Dec
Retail inflation jumped to a five-month high in
December on the back of higher food,
beverages, clothing, footwear, fuel and light
prices and posed a fresh challenge for
policymakers against the backdrop of a third
wave of Covid. Data released by the National
Statistical Office (NSO) on Wednesday showed
inflation, as measured by the consumer price
index (CPI), rose an annual 5. 6% in December,
up from November’s 4. 9%. Rural inflation was
at 5. 4%, a shade lower than the 5. 8% in urban
areas. Separate data released by the NSO
showed industrial output growth slowed to a
nine-month low of 1. 4% in November, slower
than the upwardly revised 4% recorded in
October, led by a sluggish manufacturing sector
and contraction in capital goods and consumer
durables segments. The sector had shown signs
of reviving after the lifting of curbs but the
ongoing third wave is likely to have an impact
in the months ahead. In inflation, the food index
rose to 4. 1%, higher than November’s 1. 9%.
The Times of India - 13.01.2022
https://epaper.timesgroup.com/article-
share?article=https://asset.harnscloud.com/Pu
blicationData/TOI/toikc/2022/01/13/ArticleZon
eJson/011/13_01_2022_011_009_toikc.json
Dec WPI inflation dips to 13.6%
Wholesale price inflation eased marginally in
December but remained in double digits for the
ninth month in a row, highlighting the price
pressures in the economy. Data released by the
Exports spike 33% to $7.63 billion
during January 1-7 period
The country's exports grew 33.16 per cent to
$7.63 billion during January 1-7 period on
account of healthy performance by various
4. department for promotion of industry and internal
trade (DPIIT) on Friday showed inflation, as
measured by the wholesale price index (WPI), rose
an annual 13. 6% in December, slower than
November’s increase of 14. 2%. The rate of
inflation in December 2020 was 1. 9%. “The high
rate of inflation in December 2021 is primarily due
to rise in prices of mineral oils, basic metals, crude
petroleum & natural gas, chemicals and chemical
products, food products, textile and paper and
paper products etc as compared to the
corresponding month of the previous year,” DPIIT
said. Food inflation soared to a 23-month high of
9. 6% in December, while vegetables rose an
annual 31. 6% during the month. Earlier this
week, data showed retail inflation inched up to a
5-month high of 5. 6% in December.
The Times of India - 15.01.2022
https://epaper.timesgroup.com/article-
share?article=https://asset.harnscloud.com/Publi
cationData/TOI/toikc/2022/01/15/ArticleZoneJso
n/011/15_01_2022_011_011_toikc.json
sectors, including engineering, petroleum and
gems and jewellery, according to preliminary
data from the commerce ministry. Exports
stood at $5.73 billion during the same period
last year. During the first week of this month,
imports rose about 33 per cent to $11.60 billion
as compared to $8.72 billion in the same period
of 2021. Imports, excluding petroleum,
increased in the period under review by 29.88
per cent over the same period of 2020-21, as
per the data. The ministry has expressed
confidence that the healthy growth rate would
help in achieving the target of $400 billion worth
goods exports this fiscal. The country's
merchandise exports in December 2021 surged
37 per cent on an annual basis to $37.29 billion,
the highest-ever monthly figure.
Outlook India - 12.01.2022
https://www.outlookindia.com/website/story/b
usiness-news-exports-spike-33-to-763-billion-
during-january-1-7-period/409250
Dec exports, imports at record highs,
trade deficit widens to $21.68 billion
India’s merchandise exports in December surged
a record 38. 91% on-year to $37. 81 billion,
buoyed by growth in outbound shipments of
engineering, textiles and chemicals, official data
released Friday showed. Imports too rose a record
38. 55% to $59. 48 billion, widening the trade
deficit to $21. 68 billion. “As compared to
December 2019, exports in December
2021exhibited a positive growth of 39. 47%,” the
commerce and industry ministry said in a
statement. The trade deficit was $15. 72 in
December 2020. Gold imports rose 5. 43% in
December to $4. 72 billion last month while non-
oil, non-gold imports, led by electronic goods,
fertilisers, chemicals and coal, reported a year-on-
year increase of more than $1 billion. Oil imports
were up 67. 89% on-year. As per data, 23 of the
30 major export sectors witnessed a rise in
shipments. Engineering Export Promotion Council
chairman Mahesh Desai said the order pipeline
was good, but some disruption was expected on
account of Omicron.
The Economic Times - 15.01.2022
https://epaper.timesgroup.com/article-
share?article=https://asset.harnscloud.com/Publi
cationData/ET/etkc/2022/01/15/ArticleZoneJson/
007/15_01_2022_007_012_etkc.json
LIC float to set divestment tempo
Strategic sale will continue to be the buzzword
of Union Budget 2022 with the Modi
government planning to line up IDBI Bank and
BPCL among others for sale. The ambitious Rs
1.75 lakh crore disinvestment target for the
current fiscal is almost certain to be missed, and
the target for 2022-23 would depend on the LIC
IPO planned for listing in the current quarter of
the fiscal. The LIC float is expected to include a
sale of up to 10 per cent stake in the insurer,
which is estimated to fetch the government
around Rs 80,000-1,00,000 crore. Sources said
if the government is able to push through the
LIC offer, it would set the target for next year
at around similar levels as there are several
state-owned firms where the stake sale work
have seen significant progress. In the current
fiscal, the Centre sold Air India to the Tata
group for Rs 18,000 crore. However, the Centre
could keep only 15 per cent of the proceeds with
itself, with the rest going to clear AI’s debt. The
pending big ticket divestments apart from the
IPO of LIC, include IDBI Bank, Bharat Petroleum
Corporation, Pawan Hans, Shipping Corporation
of India, BEML and Container Corporation.
The Telegraph - 13.01.2022
https://www.telegraphindia.com/business/lic-
float-to-set-divestment-tempo/cid/1847342
India's fuel consumption shows almost
no growth in December 2021
India's fuel consumption showed flattish growth in
December 2021 ahead of fresh restrictions kicking
in to control the surge of a new variant of
Omicron curbs dampen motor fuel
demand in January
Sales of petrol and diesel in the first half of
January dipped by 3 per cent and 5 per cent,
respectively, from a year ago, as Omicron
5. coronavirus that is likely to further dampen
demand, according to official data released on
Tuesday. Total petroleum product consumption in
December 2021 stood at 18.43 million tonnes,
compared with 18.36 million tonnes in the same
month last year. This after a rise in demand for
transport fuel was negated by a fall in industrial
fuel. The consumption was 7.6 per cent higher
month-on-month but was still 2.7 per cent lower
than pre-COVID-19 levels of 2019, according to
the data released by the oil ministry's Petroleum
Planning and Analysis Cell (PPAC). As the economy
continued to rebound from the deep impact of the
second wave, transport fuel demand rose in
December. Diesel, the most used fuel in the
country accounting for almost 40 per cent of all
petroleum product consumption, rose 1.5 per cent
year-on-year to 7.305 million tonnes and was near
pre-COVID-19 demand of 7.387 million tonnes in
December 2019.
Business Standard - 12.01.2022
https://www.business-
standard.com/article/economy-policy/india-s-
fuel-consumption-shows-almost-no-growth-in-
december-2021-122011101291_1.html
brought back work-from-home and several
travel restrictions. Compared with the first
fortnight of January 2020, petrol sales, which
had recovered quickly from the first and second
waves of the Covid-19 pandemic, were still 6
per cent higher, as per the sales data from
state-run oil companies that control about 90
per cent of petrol pumps in the country. Diesel
sales, however, were 8 per cent lower than in
January 2020. Jet fuel consumption grew by 7
per cent from a year earlier though it was 38
per cent lower compared with the January of
2020. Continuing curbs on international travel
have never allowed the aviation industry to go
anywhere near the pre-Covid normal in the past
two years. Sales of LPG, used mainly for
cooking in India, has remained robust, rising
9.5 per cent year-on-year and 15 per cent from
two years ago. Falling transportation fuel
demand, however, hasn't had any impact on
refinery run yet but inventory is building up, an
executive at a state-run firm said.
The Economic Times - 17.01.2022
https://energy.economictimes.indiatimes.com/
news/oil-and-gas/omicron-curbs-dampen-
motor-fuel-demand-in-january/88941648
Oil demand recovery in India poised to
weather Covid comeback
Indian oil refiner Hindustan Petroleum Corp. is
cautiously optimistic that that the nation’s
recovery from the pandemic will remain largely
intact, despite a recent spike in coronavirus cases.
Infections have surged and fewer vehicles are
traversing the streets of India’s capital, but
authorities have so far refrained from instituting a
nationwide lockdown, opting for targeted
restrictions such as closing bars. While people are
avoiding unnecessary travel, there hasn’t been a
substantial impact to demand, according to
Hindustan Petroleum Chairman Mukesh Kumar
Surana. “There’s no doubt January will be subdued
compared to December,” Surana said, predicting
that the current surge in Covid-19 infections
should flatten this month. “I’m not seeing a
longish trend to this wave. India was hit hard by a
devastating outbreak of the delta variant early last
year that overwhelmed the health system,
although the nation was spared a collapse in oil
demand similar to 2020 after avoiding a
nationwide lockdown.
The Economic Times - 15.01.2022
https://energy.economictimes.indiatimes.com/ne
ws/oil-and-gas/oil-demand-recovery-in-india-
poised-to-weather-covid-comeback/88897719
Oil prices could hit $100 as demand
outstrips supply, analysts say
Oil prices that rallied 50% in 2021 will power
further ahead this year, analysts predict, saying
a lack of production capacity and limited
investment in the sector could lift crude above
$100 a barrel. Though the Omicron coronavirus
variant has pushed COVID-19 cases far above
peaks hit last year, analysts say oil prices will
be supported by the reluctance of many
governments to restore the strict restrictions
that hammered the global economy when the
pandemic took hold in 2020.Brent crude futures
traded above $84 on Wednesday, hitting two-
month highs. "Assuming China doesn't suffer a
sharp slowdown, that Omicron actually
becomes Omi-gone, and with OPEC+'s ability to
raise production clearly limited, I see no reason
why Brent crude cannot move towards $100 in
Q1, possibly sooner, " said Jeffrey Halley, senior
market analyst at OANDA. The Organization of
the Petroleum Exporting Countries (OPEC) and
its allies, a group known as OPEC+, are
gradually relaxing the output cuts implemented
when demand collapsed in 2020.
The Economic Times - 14.01.2022
https://energy.economictimes.indiatimes.com/
news/oil-and-gas/oil-prices-could-hit-100-as-
demand-outstrips-supply-analysts-
say/88866559
6. Oil India exits US shale venture, sells 20
pc stake for $25 million
State-owned Oil India Ltd (OIL) has exited from a
US shale oil venture, selling its 20 per cent stake
to its venture partner for $25 million -- the second
exit of an Indian firm from the US shale business
in two months. "Oil India (USA) Inc (wholly owned
subsidiary of OIL), divested its entire stake in
Niobrara shale asset, USA," a regulatory filing by
the company said, adding the consideration
received was USD 25 million. OIL and Indian Oil
Corporation (IOC) had together in October 2012
bought a 30 per cent stake in Houston-based
Carrizo Oil & Gas's Niobrara shale asset in
Colorado for $82.5 million. While OIL had acquired
20 per cent, IOC bought 10 per cent in Carrizo's
Niobrara basin acreage assets through their
respective subsidiaries. The total investment of
$82.5 million included an upfront cash payment of
$41.25 million and a carry amount of $41.25
million, linked to Carrizo's future drilling and
development cost. The stake was sold to Verdad
Resources LLC, which is the operator of the asset.
The Economic Times - 17.01.2022
https://energy.economictimes.indiatimes.com/ne
ws/oil-and-gas/oil-india-exits-us-shale-venture-
sells-20-pc-stake-for-25-million/88941554
Vedanta puts $12 billion price tag on
Bharat Petroleum
Vedanta Group is willing to spend $12 billion to
acquire India’s state-owned refiner Bharat
Petroleum Corp., an asset sale that’s among the
nation’s biggest and which has faced delays in
completion. “We’re not going to bid
aggressively, but we will put the right price,”
billionaire chairman Anil Agarwal said in an
interview in Riyadh on Wednesday. “The market
cap of the company is about $11 billion to $12
billion, so this is the amount of investment we’re
looking at.” India’s plan to privatize BPCL NSE
0.53 % has run into rough weather with bidders
struggling to find partners and spread their
financial risks for the big-ticket acquisition. The
country was expecting global oil majors to team
up with investment funds to participate in the
sale. But some bidders are finding it difficult to
invest due to global sustainability rules that
make it tougher for them to make large
investments in fossil fuels.
The Economic Times - 13.01.2021
https://economictimes.indiatimes.com/industr
y/energy/oil-gas/vedanta-puts-12-billion-
price-tag-on-bharat-
petroleum/articleshow/88876066.cms
Domestic air passenger traffic at 111
lakh in Dec; up 52% y-o-y
Domestic air passenger traffic remained 44 per
cent lower in the April-December 2021 period
against the corresponding period of FY20, but saw
a jump of 52 per cent year-on-year to 111 lakh in
December 2021, according to rating agency ICRA.
The total domestic passenger traffic had stood at
73 lakh in December 2020, according to a report
by the rating agency. It also said that the
emergence of new Coronavirus variant and
reactionary restrictions impacting air travel
remain near term-challenges for the airline
industry. On a sequential basis, the growth in
December was recorded at 5-6 per cent over
November 2021 during which Indian carriers had
flown 105 lakh passengers, ICRA said in a
statement on Monday. Besides, the average daily
departures stood at around 2,800, notably higher
compared with around 2,065 in December 2020
and around 2,700 in November 2021, it said. At
the same time, the average number of passengers
per flight during December 2021 was largely flat
at 129 as compared to 130 in November, ICRA
said.
Millennium Post - 11.01.2022
http://www.millenniumpost.in/business/domestic
-air-passenger-traffic-at-111-lakh-in-dec-up-52-
y-o-y-464646
ONGC CMD Dr Alka Mittal is new
Chairperson of MRPL
Dr Alka Mittal is the new Chairperson of
Mangalore Refinery and Petrochemicals Limited
(MRPL), a subsidiary of Oil & Natural Gas
Corporation Limited (ONGC). "Oil & Natural Gas
Corporation Limited (ONGC) has nominated Dr
Mittal as Director & Chairperson on the Board of
MRPL", MRPL said in a regulatory filing to the
stock exchange. She is not related to any
Director of the company, it added. Alka Mittal is
a full-time Director (HR) of ONGC and recently
she has been given the additional charge of the
ONGC's CMD post. She is also on the Board of
ONGC Mangalore Petrochemicals Limited
(OMPL) as ONGC nominee Director since August
2015 and as a nominee Director on the Board of
HPCL.
PSU Watch - 13.01.2022
https://psuwatch.com/ongc-cmd-dr-alka-
mittal-is-new-chairperson-of-mrpl