Investors' Faith Puts ONGC on High-Growth Path - Business Today

摘要

On January 16 this year, Sudhir Vasudeva, then Chairman and Managing Director of Oil and Natural Gas Corporation (ONGC), and Dinesh Kumar Sarraf, then head of its foreign assets' arm, ONGC Videsh Ltd (OVL), both sat glued to their TV sets. They wanted to know the outcome of a meeting an Empowered Group of Ministers (EGoM) was holding that day to decide on the disinvestment of 10% stake in Indian Oil Corporation (IOC). The United Progressive Alliance government was still in power and anxious to reduce the fiscal deficit before the general elections in April/ May.