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The stake sale is part of the disinvestment drive of the government. In January, the government approved the sale of loss-making NINL to Tata Steel Long Products for Rs 12,100 crore.

The stock quoted a 52-week high price of Rs 4577.45 and low of Rs 2475.3.

As part of the agreement, Exide will commercialise the technology owned by SVOLT in lithium ion cells, reports said, adding that SVOLT Energy Technology will provide Exide with the support to set up a manufacturing plant.

“Despite all the accusations, Modi’s credibility remains so high that he can afford to go for a sensible economic policy. He can afford to go towards freeing up the economy, creating a situation where business can flourish and where foreign investment as well as Indian investment will go. So these are the conditions he will be able to focus on rather than focussing on freebies.”

Higher US interest rates dim the appeal of emerging market currencies such as the rupee and typically lead to outflows of overseas investment.

A total of 1,405 shares changed hands on the counter till 10:46AM (IST)

The Board has also approved the setting of second-line of Extruded Polystyrene Board (XPS) with the capacity of 1,00,000 M3 and increasing the Masterbatch and Compounds capacity by 50,000 MTA, reports said.

Indian Oil Corporation Ltd., incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 113911.32 Crore) operating in Gas & Petroleum sector.

The Nifty Realty index was trading 0.06 per cent up at 428.45.

Promoters held 0.0 per cent stake in the company as of 31-Dec-2021, while FII and DII ownership stood at 8.67 per cent and 1.17 per cent, respectively.