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ONGC to sell 19% in chemical venture to Gail

This article was posted on Feb 26, 2009 and is filed under Stock News

GAIL is seeking a 26 % stake in the venture, said the company. ONGC has agreed to sell a 19% stake in its chemical venture to GAIL India. GAIL is seeking a 26 % stake in the venture, said the company.
Gail also announced that it would supply regasified gas to 4 fertilizer units and would sell 4.89mn cubic meters of gas to them.

Shares of ONGC have gainde by a percent and Gail surged by 2.5%.

source: SifyFinance

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