Oil India up 1%; consortium to buy 23.9% stake in Vankorneft

An Indian consortium, led by Indian Oil Corporation (IOC) along with Oil India (OIL) and Bharat Petro Resources (BPRL), a 100% subsidiary of Bharat Petroleum Corporation (BPCL), have signed definitive agreement to acquire upto 23.9 per cent shares from Rosneft Oil Company (Rosneft), NOC of Russia in JSC Vankorneft, a company organised under the law of Russian Federation which is the owner of Vankor and North Vankor Field licenses.

Oil India Ltd stock was up by 1% at Rs. 352. An Indian consortium, led by Indian Oil Corporation (IOC) along with Oil India (OIL) and Bharat Petro Resources (BPRL), a 100% subsidiary of Bharat Petroleum Corporation (BPCL), have signed definitive agreement to acquire upto 23.9 per cent shares from Rosneft Oil Company (Rosneft), NOC of Russia in JSC Vankorneft, a company organised under the law of Russian Federation which is the owner of Vankor and North Vankor Field licenses.

The scrip opened at Rs. 349.35 and has touched a high and low of Rs. 354.75 and Rs. 348 respectively. So far 38186(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 21042.76 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 478 on 23-Jun-2015 and a 52 week low of Rs. 300.5 on 01-Mar-2016. Last one week high and low of the scrip stood at Rs. 358 and Rs. 346.85 respectively.

The promoters holding in the company stood at 67.64 % while Institutions and Non-Institutions held 17.13 % and 15.22 % respectively.

The stock is currently trading above its 200 DMA.