<h1>India Sells 51.11% Stake in HPCL to ONGC for Rs. 36,915 Crore, Creating Vertically Integrated Oil Major.</h1> The Government of India has agreed to sell its 51.11% equity stake in Hindustan Petroleum Corporation Ltd. (HPCL) to Oil and Natural Gas Corporation (ONGC) for Rs. 36,915 crore. This strategic sale aligns with the government's approach to manage public assets more efficiently, as outlined in the 2017-18 Budget by the Finance Minister. The Union Cabinet approved the proposal, and an Alternative Mechanism led by the Finance Minister finalized the sale terms. This acquisition will make ONGC India's first vertically integrated oil major, enhancing its capacity and allowing for greater economic consolidation and synergy within the oil and gas sector. HPCL will remain a Central Public Sector Enterprise.