Like ONGC, OIL may also go for stock split

OIL to follows ONGC
Following the imprints of Oil and Natural Gas Corporation (ONGC), state run oil major Oil India Ltd (OIL) is also likely to announce a stock split programme to expand retail participation in the company.

A senior OIL executive quoted, “ONGC went for stock split recently. We will also consider it and approach the government for approval at an appropriate time to widen retail investor participation."

Industry experts are of the opinion that a stock split programme will help the company to increase tradability of its shares.

Investment advisor S P Tulsian, quoted, “The company can do a split to increase tradability but OIL"s case is different from ONGC where the split was done keeping in view the upcoming follow-on public offer (FPO).

Read more about: shares, nse, bse, oil and gas
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