Reliance exits ONGC

Affiliate companies of the Reliance Group in India yesterday sold out their entire 0.6% stake in Oil and Natural Gas Corporation (ONGC). Under the sole books of Citigroup, the deal was priced at Rp845.1 a share, a 2.5% discount to the previous day's close of Rp866.75. The sale of 8.6 million shares raised some Rp7.3 billion ($166 million).