After ONGC, its Oil Indias turn for divestment: Sources

Close on the heels of Oil and Natural Gas Corp (ONGC), the oil ministry has indicated that now Oil India would be the next candidate for divestment, CNBC-TV18 has learnt.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead Travelcafe
moneycontrol.com

Home » News » Business

Mar 01, 2012, 03.41 PM | Source: Moneycontrol.com

After ONGC, its Oil India's turn for divestment: Sources

Close on the heels of Oil and Natural Gas Corp (ONGC), the oil ministry has indicated that now Oil India would be the next candidate for divestment, CNBC-TV18 has learnt.

Like this story, share it with millions of investors on M3

After ONGC, its Oil Indias turn for divestment: Sources

Close on the heels of Oil and Natural Gas Corp (ONGC), the oil ministry has indicated that now Oil India would be the next candidate for divestment, CNBC-TV18 has learnt.

Post Your Comments

Share Cancel

Close on the heels of Oil and Natural Gas Corp (ONGC), the oil ministry has indicated that now Oil India would be the next candidate for divestment, CNBC-TV18 has learnt.

While the 5% stake sale of ONGC via auction route is in progress today, Oil India too will follow trend. However, there is no word from the department of divestment as of now.

Sources in the know say there could be a 10% divestment, if done via auction route for Oil India which can fetch upto Rs 3,000 crore to the government.

Divestment of PSUs is important for the government to help it control the budget deficit, which is widely expected to overshoot the targeted 4.6% of gross domestic product this fiscal year through March by as much as one percentage point.

The government aims to narrow the deficit to 3.5% by March 2014, but heavy subsidies to artificially lower food, fertilizer and fuel prices and shield the poor from inflation have cast doubts over the government's ability to stick to its fiscal consolidation plan.

Did you read: Ahead of stake sale today, ONGC stock rises

 

 

Oil India stock price

On April 28, 2016, Oil India closed at Rs 329.90, up Rs 2.10, or 0.64 percent. The 52-week high of the share was Rs 503.95 and the 52-week low was Rs 300.50.


The company's trailing 12-month (TTM) EPS was at Rs 40.13 per share as per the quarter ended December 2015. The stock's price-to-earnings (P/E) ratio was 8.22. The latest book value of the company is Rs 357.89 per share. At current value, the price-to-book value of the company is 0.92.

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
After ONGC, its Oil Indias turn for divestment: Sources

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login