SC gives go-ahead to divestment in UP sugar mills

The Supreme Court on Friday gave the go-ahead to disinvestment in 11 sugar mills owned by the UP government, but subjected the outcome to its final judgement.

Opposition to Nalco divestment grows as CM, BJP threaten stir

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.

NTPC expects to attract up to Rs 6,000cr from global investors

In a remarkable response from international roadshow, state-run NTPC today said it is hoping a subscription of up to Rs 6,000 crore from the global investors to its follow-on public offer next month.

NTPC builds Rs 2.25 lakh cr warchest to become 75k MW firm

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.

Govt shortlists Citi, Kotak among six to advice on NMDC sell-off

Six leading bankers, including Citigroup and Kotak Mahindra, are learnt to have been shortlisted for managing divestment programme of state-owned iron ore producer NMDC.

Government to divest 10 percent in Coal India: Chairman

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.

Govt to disinvest 8.38 percent in NMDC

The government will sell its 8.38 percent stake in NMDC by March 31, 2010, the Navratna mineral company has said.

NMDC aims to raise $4.9 bn through share sale

The government is hoping to raise over Rs.230 billion ($4.9 billion) from the sale of a stake in iron ore miner National Mineral Development Corp.

Divestment money to be used for capital expenditure

The central government will use the proceeds from divestment of public sector undertakings in capital investment for the next three years, an official said on Monday.

Hindustan Copper to offload 10 percent equity

Hindustan Copper has decided to come out with a follow-on public offer (FPO) to offload 10 percent of its equity.

Rangarajan calls for divestment roadmap

The Prime Minister`s Economic Advisory Council (PMEAC) Chairman C Rangarajan on Wednesday said the government should draw up a roadmap for divesting its stake in
state-run companies.

Divestment Dept, SCOPE differ on flurry of PSU IPOs

The Disinvestment Department and SCOPE, the public sector enterprises apex body, have different takes on the govt proposal to dilute its stake in as many as 60 CPSUs.

CIL may soon appoint merchant banker to advise on divestment

The country`s largest coal miner,
Coal India Ltd (CIL), is likely to appoint a merchant banker
soon to advise it on the proposed disinvestment in the
company.

SAIL`s divestment plans gets approval from FinMin

State-owned SAIL on Friday said the
finance ministry has given its in-principle approval for 20
per cent disinvestment of the steel giant.

NTPC stake sale to boost market sentiment: Analysts

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.

MMTC sell-off possible only in next fiscal

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.

Centre`s policy is to strengthen PSUs: Pranab

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.

It`s best time now for divestment: PRIME Database

Primary market tracking firm Prime
Database has said it is the best time for the government to
divest its stake in PSUs and it should target at least 60
public offers in five years.

Shipping Ministry favours divestment in Cochin Shipyard

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.

CIL divestment: Coal Min turns to Finance, Law Ministries

The Coal Ministry has approached the Department of Disinvestment for determining the value of Coal India`s shares ahead of the PSU`s proposed disinvestment.