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The Government has decided to sell 10 per cent stake in Indian Oil Corporation (IOC), the nation’s largest oil firm, through an off-market deal.
The government is likely to offer IOC shares at a 10 per cent discount to the current market price.
IOC today reported a net loss of Rs 961.45 crore in the December quarter after the Government paid less than half of the due oil subsidy, negating foreign exchange gains.
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