OIL bought a 54.16 per cent stake to raise its shareholding in the refinery to 80.16 per cent, the company said in stock exchange filings.
Earlier this week, Adani Green Energy Ltd (AGEL) had signed definitive agreements with Sterling & Wilson, a Shapoorji Pallonji group company, for the acquisition.
"I politely disagree with that kind of statement. Certainly India has its own strategy, when and how to use our own storage, and we are conscious about our interests," Pradhan said at an event. Hit hard by rising oil prices, Pradhan has repeatedly called on the Organization of Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, to ease supply curbs.
On Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 108 at Rs 4,363 per barrel.
A total of 590,665 shares changed hands on the counter till 01:04PM (IST).
Kedia recommends buying mentha oil around Rs 950 for a target of Rs 965 by the end of this week with a stop loss at Rs 940.
Oil India Ltd., incorporated in the year 1959, is a Mid Cap company (having a market cap of Rs 12709.23 Crore) operating in Gas & Petroleum sector.
Brent crude slid fell $2.79, or 4.3%, to $61.62 a barrel by 11:20 a.m. EDT (1520 GMT). US West Texas Intermediate (WTI) crude fell $3.20, or 5.2%, to $57.98 a barrel.
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