SPONSORED BY

Auto Segment
Mutual Fund Segment
My Budget
Expert Speak
In Association With
 
Business Standard

Oil India dips on divestment buzz

The government is considering to offload 10% stake or 60.10 million shares in the petroleum exploring company via offer-for-sale.

Related News

Oil India is trading lower by 3% to Rs 523 in late afternoon deals on BSE, on reports that the Empowered Group of Ministers (EGoM) is likely to meet today to decide on price and time of sale of government's 10% stake in the company.

“The offer for sale would be completed by Friday,” the Business Standard report suggests quoting a senior finance ministry official.

The government is considering to offload 10% stake or 60.10 million shares in the petroleum exploring company via the (OFS) route, likely to fix the base price at discount to the current market price, the media report suggests.

Currently, the government holds about 78.43% stake in the company.

The stock opened at Rs 540 and hit a low of Rs 521 on the BSE. A combined around 242,000 shares have changed hands on the counter so far on both the exchanges.

Read more on:   
|
|

Read More

UCO Bank slips on declining net

Shares of UCO Bank has slumped after the bank posted a sharp drop in net profit for the third quarter ended December 31, 2012.

Recommended for you

Quick Links

Market News

Domestic steel producers welcome import duty increase

Jaitley raised import duty of long as well as flat steel products from five per cent and 7.5%, respectively, to 10%

Little on offer for steel industry: Dilip Oommen

For the steel industry, the Budget has little to offer directly, barring a provision to raise the import duty on steel and a reduction in import ...

FMC-Sebi merger was needed: Samir Shah

This will pave the way for widening the scope of participation by banks, foreign institutional investors, mutual funds, etc, in the commodity ...

Budget And Impact: See-saw trade

Amid much volatility, the Nifty rose on Saturday. EY analyses the Budget impact:

Akash Prakash: Budget will keep the bulls happy

The Union Budget has, by and large, met most rational expectations of what could have been delivered. The arithmetic seems realistic, with gross ...

 

Back to Top