Oil India board announces 1:3 bonus

The board of directors of Oil India has approved a proposal to issue a bonus share to its shareholders for every three shares held in the company. As of June 30, the central government held 67.64 per cent stake in Oil India, while Life Insurance Corp of India held 7.38 per cent. Shares of Oil India on Monday closed 2 per cent down at ₹428.25 on the NSE.