Oil India down 1% as OFS opens

Oil India (OIL), is an Indian public sector oil and gas company under control of the Ministry of Petroleum and Natural Gas of the government of India, fell on Friday after opening of offer for sale (OFS) for government's 10% stake in the OIL.

The government fixed the floor price at Rs 510 a share, a discount of around 5% discount to its current market price, to raise Rs 30.65 billion.

Shares ofthe companyare trading at Rs 533.75, down Rs 5.45, or 1.01% at the Bombay Stock Exchange (BSE) on Friday at 10:17 a.m.The scrip has touched an intra-day high of Rs 534.85 and low of Rs 521.30. The total volume of shares traded at the BSE is 70,943.In the earlier session, the shares gained 2.29%, or Rs 12.05, at Rs 539.20. Currently, the stock is trading down 13.53% from its 52-week high of Rs 617.40 and above 23.86% over the 52-week low of Rs 431.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 532.60 6.60 1.24 1 Month 472.15 67.05 14.20 3 Months 478.30 60.90 12.73 6 Months 487.05 52.15 10.71 1 Year 487.34 51.86 10.64 Note: Based on previous day closing price.