IOC to sell part stake in ONGC, GAIL

The board of directors of Indian Oil Corporation on Wednesday decided to sell up to 50 per cent and 20 per cent of its take in Gas Authority of India Ltd and Oil and Natural Gas Corporation respectively subject to approval by the Union government.

The board, which met on Wednesday, approved the decision, IOC informed the Bombay Stock Exchange.

All the three companies are state-owned.