Indian Oil Corporation (IOC) shares jumped on Friday after the Oil Minister Veerappa Moily was quoted by media saying that a panel of ministers has approved sale of a 10% stake in IOC through a block deal on the stock exchanges.
Shares of the company are trading at Rs 222.85, up Rs 10.8, or 5.09% at the Bombay Stock Exchange (BSE) on Friday at 12:54 p.m.
The scrip has touched an intra-day high of Rs 223.05 and low of Rs 213.95. The total volume of shares traded at the BSE is 202,854.
In the earlier session, the shares gained 1.48%, or Rs 3.1, at Rs 212.05.
Currently, the stock is trading down 40.57% from its 52-week high of Rs 375 and above 19.68% over the 52-week low of Rs 186.20.