Govt to divest minority stake in 10 PSUs: FinMin
Quotes

Govt to divest minority stake in 10 PSUs: FinMin

Last Updated: Thursday, December 06, 2012, 15:25
 
 Comment 0
 
Govt to divest minority stake in 10 PSUs: FinMin
New Delhi: The government on Thursday said it has decided to divest stake in 10 companies, including Oil India, SAIL and Hindustan Aeronautics.

The government has decided to disinvest its stake in some of the public sector undertakings, Minister of State for Finance S S Palanimanickam said in a written reply to the Rajya Sabha.

"The realisation would depend upon prevailing market conditions and investor interest at the time of actual disinvestment," he said.

As per the plan, the government will sell 10 percent stake each Rashtriya Ispat Nigam Ltd (RINL), Hindustan Aeronautics Ltd (HAL), Oil India and NMDC.

Besides, it plans to offload 12.15 percent in NALCO, 10.82 percent in SAIL, 9.50 percent in NTPC and 9.33 percent in MMTC.

Also, a 5 percent stake sale in BHEL and another 4.01 percent in Hindustan Copper is in the pipeline.

During the current financial year, government disinvested 10 percent in NBCC and 5.58 percent of Hindustan Copper Ltd (HCL) out of its shareholding and realised an amount of Rs 124.97 crore and Rs 807.02 crore respectively totalling Rs 932 crore.

The Finance Ministry has already said that the government is taking necessary action to achieve the budgetary target of Rs 30,000 crore set for the financial year 2012-13.

Last month, the government sold 5.58 percent stake in HCL for about Rs 807 crore at an average price of Rs 156.56 apiece, with bulk of the bids coming from LIC and PSU banks.

The government has already initiated the process of disinvestment of 10 percent of stake in NMDC, 9.3 percent in MMTC, and 9.5 percent in NTPC.

Besides, the Cabinet has also okayed disinvestment of 12.1 percent in Nalco.

PTI



First Published: Thursday, December 06, 2012, 15:25


Comments


comments powered by Disqus
Samsung Galaxy Tab 4 Nook
Samsung Galaxy Tab 4 Nook
BMW-X3
BMW-X3
Forbes Best Places for Biz 2014
Forbes Best Places for Biz 2014
Hyundai Elite i20
Hyundai Elite i20
Honda Mobilio MPV
Honda Mobilio MPV

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved