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Oil India gains on interim dividend announcment

Stock up 11%

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Upstream oil company, Oil India gained 11% at Rs 573 on the BSE after the government announced a partial deregulation of diesel prices yesterday.

Further, the company in a filling on the exchanges informed that the Board of Directors at its meeting held on January 18, 2013, has declared an of Rs.11 per share for the year 2012-13.

The date set for dividend payout is from January 25, 2013 and is to be completed on and before February 15, 2013.

The stock opened at Rs 516 and hit a low of Rs 515 on the BSE. A combined 1.8 million shares have changed hands on the counter so far on both the exchanges.

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