Orissa Chief Minister Naveen
Patnaik today strongly opposed the Centre`s move to offload 10
per cent of its stake in the Navratna aluminium giant Nalco
which has its mines, refinery and smelter unit in the state.
India`s largest power company NTPC plans to invest a massive Rs 2,25,000 crore in the next seven years in capacity expansion to become a 75,000-MW entity, company`s Chairman and Managing Director R S Sharma said today.
The federal government will divest 10 percent equity in the state-run Coal India next fiscal, hoping to generate USD 8-10 billion, going by the valuation of a comparable Chinese company, a top official said on Thursday.
The government`s nod for stake sale in state-run power utilities - NTPC and Satluj Jal Vidyut Nigam (SJVNL) - is expected to bolster investor sentiment and propel the stock markets in days to come, analysts said.
The Disinvestment Department is working on a proposal to seek Cabinet approval for sale of government equity in MMTC Ltd, but disinvestment in the trading giant would be possible only in the next fiscal.
Describing reports that government was trying to privatise the public sector as a "malicious propaganda", Union Finance Minister Pranab Mukherjee on Saturday said the Centre`s policy was to strengthen PSUs and not weaken them.
The Shipping Ministry supports
the Department of Economic Affairs` move to divest government
equity in state-run Cochin Shipyard, the largest shipping and
ship repair yard in India, a top ministry official said on Tuesday.