 "Cairn India CEO sells 1.5 mln shares for Rs 51 cr, stock down")
Mumbai: The chief executive officer of Cairn India has sold more than half his shareholding in the oil and gas explorer for Rs 51.26 crore, the company said in a stock exchange filing on Thursday.
Rahul Dhir has sold 1.5 million shares between 30 January and 1 February, Cairn said, but did not disclose any reason for the sale.
[caption id=“attachment_201487” align=“alignleft” width=“380” caption=“Dhir has sold 1.5 million shares between 30 January and 1 February.Reuters”]
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Dhir, who has been CEO since August 2006, held 2.78 million shares or 0.15 percent of the company’s equity before these transactions.
London-listed miner Vedanta Resources acquired majority stake in Cairn India last year in a $8.7 billion deal, buying most of the stake from Cairn Energy Plc .
Reuters