State Bank of India (SBI), the country's top lender, plans to bid for state-run Oil and Natural Gas Corporation ( ONGC) shares, its Chairman Pratip Chaudhuri said on Thursday.
The government is set to raise at least $2.5 billion selling a 5% stake in ONGC, aiming to patch up its widening fiscal deficit and revive its stalled privatisation agenda. The one-day auction started at 9:15 a.m.
At 11.26 am, SBI was trading at Rs2,215.05, down by 1.26%, with a volume of 2.38 lakh shares on the BSE.
ONGC was trading at Rs291.40, down by 0.66%, with a volume of 2.69 lakh shares on the BSE.
....more info
The government is set to raise at least $2.5 billion selling a 5% stake in ONGC, aiming to patch up its widening fiscal deficit and revive its stalled privatisation agenda. The one-day auction started at 9:15 a.m.
At 11.26 am, SBI was trading at Rs2,215.05, down by 1.26%, with a volume of 2.38 lakh shares on the BSE.
ONGC was trading at Rs291.40, down by 0.66%, with a volume of 2.69 lakh shares on the BSE.
....more info