Divestment to anchor Indian Oil shares

Indian Oil Corp will remain in the limelight, as the Government has decided to offload shares in the oil retailer at 10 per cent discount to the prevailing stock price to Oil India Ltd and Oil & Natural Gas Corp through block deals. Shares of Indian Oil Corp on Thursday closed at ₹244.50 on the National Stock Exchange, down 5 per cent from Wednesday. On January 16, an Empowered Group of Ministers had approved 10 per cent stake sale in IOC through block deals to ONGC and Oil India.