Cabinet Nod For Indian Oil, NTPC Stake Sale; Likely to Fetch Rs 13,000 Cr

The government on Wednesday approved stake sales in state-owned Indian Oil (IOC) and NTPC or National Thermal Power Corporation, which is likely to add nearly Rs 13,000 crore to the government's coffers, based on current market price. As part of the government's ambitious disinvestment drive to raise Rs 69500 crore by March 2016, it will sell a 10 per cent stake in oil refiner Indian Oil and a 5 per cent stake in power producer NTPC...