Modi govt weighs paring stake in Indian Oil to below 51%

Modi govt weighs paring stake in Indian Oil to below 51%

A logo of Indian Oil is picture outside a fuel station in New Delhi, India August 29, 2016. REUTERS/Adnan Abidi/Files

India plans to reduce its stake in Indian Oil Corp. to below 51% while ensuring the government and state-run companies retain control of the nation’s largest oil refiner, people with knowledge of the matter said.

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