Oil India gains on interim dividend announcment

Stock up 11%

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 Interim Dividend 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.