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Cairn India CEO Sells 1.5 Mn Shares In Company

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The chief executive officer of Cairn India has sold more than half his shareholding in the oil and gas explorer for 512.68 million rupees, the company said in a stock exchange filing on Thursday.

Rahul Dhir has sold 1.5 million shares between January 30 and February 1, Cairn said, but did not disclose any reason for the sale.

Dhir, who has been CEO since August 2006, held 2.78 million shares or 0.15 per cent 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)