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5% IOC stake sale part of revised disinvestment target of Rs 16,027 cr

The purchase of 5% stake in Indian Oil (IOC) is part of India?s revised disinvestment target of R16,027 crore.

The purchase of 5% stake in Indian Oil (IOC) is part of India?s revised disinvestment target of R16,027 crore. ONGC acquired 5% stake in IOC from the government for R2,670 crore on Friday at R220 per share after an open market stake-sale was ruled out by the petroleum ministry due to weak market conditions.

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First published on: 16-03-2014 at 03:14 IST
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