New Document top_band
 
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.

Read more on:    Ongc | Offer-for-sale | Oil India
Related News

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 Oil India 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.

Quick Links

 

Market News

Sugar down 0.3% on profit-bookings

Commodity for delivery in August shed 0.20%

Silver down 0.6% on profit-booking, global cues

In the international market, metal fell by 0.5% to $20.80 an ounce in Singapore

Palm oil up 0.3% as demand picks up

Oil for delivery in July contract gained 0.24%

Cardamom up 0.2% as demand picks up

Spice for delivery in September edged up by 0.17%

Lead up 0.5% on spot demand

Metal for delivery in July contract edged up by 0.38%

Back to Top