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No plan to sell Nalco, HCL stakes: Mines Minister

Last Updated: Wednesday, August 19, 2009 - 12:35

New Delhi: The government has no plans to sell stakes in state-run National Aluminium Co Ltd (NALCO) and Hindustan Copper, Mines Minister BK Handique said on Wednesday.

"I don`t think so. I don`t see any reason particularly in Nalco," Handique said when asked if Nalco and HCL were candidates for stake sales.

The cash-strapped government has said it would sell stakes in state companies to shore up revenues.

Yesterday, Finance Secretary Ashok Chawla said the government is mulling disinvestment of 6-7 public sector undertakings in the next 10 to 12 months.

NHPC has already completed its initial public offering (IPO), Oil India Limited (OIL) is slated to hit the market in September.

The NHPC issue, which would help raise about Rs 6,000 crore, was subscribed over 23 times the shares on offer.

Among the PSUs which are firming up plans to hit the capital markets include mineral major NMDC and Coal India Limited.

Bureau Report

First Published: Wednesday, August 19, 2009 - 12:35

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