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.

SI Reporter  |  Mumbai 

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.

RECOMMENDED FOR YOU

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.

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.

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.

image

LIVE MARKET

BSE 26392.38

161.19 (0.61 %)

NSE 8001.95

53.00 (0.67%)

Widgets Magazine

STOCK WATCH

Company Price() Chg(%)
Future Consumer 16.15 11.76
Kolte Patil Dev. 164.95 10.30
Vakrangee 118.45 9.88
PC Jeweller 384.50 9.34
Gateway Distr. 361.20 7.32
> More on BSE Gainers
Company Price() Chg(%)
Future Consumer 16.25 12.07
Kolte Patil Dev. 166.00 11.00
Vakrangee 118.35 9.89
L G Balakrishnan 491.15 8.78
Gateway Distr. 363.50 8.33
> More on NSE Gainers
Company Price() Chg(%)
Sunrise Asian 260.70 -9.98
Symphony 2083.30 -6.39
I O B 34.95 -5.41
Indbull.RealEst. 62.55 -5.01
H D I L 59.95 -4.99
> More on BSE Gainers
Company Price() Chg(%)
Rasoya Proteins 0.20 -20.00
Usha Martin 15.25 -5.86
I O B 35.35 -5.73
GHCL 115.70 -5.47
Gammon India 13.90 -5.12
> More on NSE Gainers
Widgets Magazine
Widgets Magazine
Widgets Magazine

Derivatives

Index
Instrument Type
Expiry Date
Option Type
Strike Price