An Integrated, Balanced Company: Fill & Download for Free

Please note that ONGC is no longer in favour of a merger, instead it is planning to buy HPCL to make it a subsidiary. Here’s the story in brief:Initial Plan:Government was planning a merger between ONGC and HPCL to make the former, an integrated oil company (explained ahead). This idea was dropped owing to differences in the work culture of the two entities. A past example (Air India and Indian Airlines) of such a merger intensified government’s concern.Change in Plan:Now, ONGC is headed towards acquiring HPCL with a government’s stake of 51.11%. There were also talks going on between ONGC and BPCL prior to this plan, which failed due to financial constraints.Why not BPCL?BPCL or Bharat Petroleum Corporation Ltd. is India’s second largest fuel retailer. On the other hand HPCL or Hindustan Petroleum Corporation Ltd. is the third largest. In order to acquire any of these companies, ONGC has to buy at least 51% stake. Their positions in the oil market are as follows:BPCL | 2nd largest | Market Cap: Rs. 1,01,738 crore | Govt’s desired stake: 54.93% | equals to Rs. 55,885 crore |HPCL | 3rd largest | Market Cap: Rs. 54,797 crore | Govt’s desired stake: 51.11% | equals to Rs. 28,006 crore |Since BPCL is too expensive for ONGC to acquire, it is going for HPCL.Integrated oil company:India has 6 major oil companies - 2 oil producers (ONGC & Oil India), 3 refiners (IOC, HPCL & BPCL) and 1 midstream gas transportation company (GAIL). An integrated oil company can perform multiple operations from oil exploration and production to refining. With the help of this acquisition, ONGC will become the third-largest refiner in the country.Benefits of the acquisition:The benefits lie for ONGC as it’ll help it become a global oil competitor:It’ll be able to compete with international and domestic oil companies.Added oil refining capacity of 23.8 million tonnes per annum.As an integrated oil company, it’ll add more value to the economy.It’ll be able to better shield itself from volatile crude oil market.It’s earnings will smoother than before due to an integrated business.A stronger composite balance sheet and portfolio.It’ll be better able to bid for oil fields globally.That’ll prevent oil shocks for India in future.[Images taken from Google]

Question: “What was the lowest horse power V8 ever made?”My bet is that it would be the 36 horsepower V8 in the 1917 Chevrolet Series D.One should note that in 1917 Chevrolet was not part of General Motors; neither was it positioned as a low priced car manufacturer. Chevrolet was founded in 1911 by William Durant and the automobile racer Louis Chevrolet. The two partners disagreed on the type of car the company should build, Chevrolet wanting to put his name on expensive luxurious cars, Durant desiring to build low priced cars. The partners split up 1915. Durant bought Chevrolet’s shares. Durant then invested in and became the controlling share holder in General Motors and in 1918 merged Chevrolet into that company. GM, under Alfred Sloan, positioned Chevrolet as GM’s entry level car and a competitor to Ford.The Model D engine displaced 288 cubic inches or 4.7 liters. It had some unusual features such as a water cooled (or heated) aluminum intake mainfold and a starter and gear driven generator set in the valley between the cylinder banks. The valve gear including lifters and pushrods are fully exposed and not lubricated by the engine’s oil pump. The car came equipped with an oil can and instructions to use it to lubricate the valve gear every 250 miles. (Note the oil can in its place against the firewall in the above photo.) The engine’s crankshaft had integral balance weights. Not all cars at the time did. The four-cylinder Ford Model T, for example, had a crankshaft that did not have balance weights. (After market suppliers did offer a crankshaft balance weight kit that could be bolted on the Model T’s crankshaft without removing the engine from the car.)The 1917 Chevrolet Model D was the company’s first V8 and one of the very first overhead valve V8s. It was not popular and was sold for only two years. Chevrolet would not sell another V8 until 1955.Note the Model D’s massive 50 pound exposed flywheel and the subframe supporting the transmission some distance behind the engine.Note the price of the Chevrolet Model D in the above advertisement, $1,385.00. In that year a Ford Model T could be purchased fro $500.00. The Model D was nearly three times as expensive.

No downtime in your work life.The CS is roped in for almost all of the corporate functions. Hence, for a better part of the year the CS is tied up in priority work that a nominal working day can get extended up to 14 hrs. It starts from a typical March end going up for the statutory audit and Balance Sheet preparation and signing which usually ends by June. Then conducting the Annual General Meeting and the Annual filings and secretarial audit which ends by September.Besides that, the CS usually heads the Legal Department and is an integral part of strategy and business development and is required to attend all the Board Meetings.So basically, negligible work-life balance. Your life is a priority case.