ONGC seeks exemption from government's share buyback request

This follows local news reports which said the government wants the ONGC to buy back a portion of its 67.45 percent stake in the company to meet its divestment target.

Reuters

September 26, 2018 / 01:12 PM IST

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India's Oil and Natural Gas Corp Ltd (ONGC) has sought an exemption from a government request to buy back government-held shares in the company as ONGC needs the funds for its own capital expenditures, Chairman Shashi Shanker said on Wednesday.

This follows local news reports which said the government wants the ONGC to buy back a portion of its 67.45 percent stake in the company to meet its divestment target.

Reuters

Tags: #Business #India #Market news #ONGC

first published: Sep 26, 2018 01:05 pm

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ONGC seeks exemption from government's share buyback request

This follows local news reports which said the government wants the ONGC to buy back a portion of its 67.45 percent stake in the company to meet its divestment target.