Union Cabinet has approved stake sale in Indian Oil Corporation (IOC) and NTPC, as per media reports. The government gave clearance for 10% stake sale in IOC and 5% stake sale in NTPC, according to reports.
Shares of two public sector undertakings were trading down in morning session.
NTPC shares declined Rs 5.25, or 3.71%, to trade at Rs 136.25. The total volume of shares traded was 219,215 at the BSE (11.01 a.m., Wednesday).
Meanwhile, shares of IOC declined Rs 8, or 2.4%, to trade at Rs 324.80. The total volume of shares traded was 35,765 at the BSE (11.00 a.m., Wednesday).