Oct 04, 2012, 10.50 AM | Source: CNBC-TV18

Govt to divest more stake in Engineers India, PowerGrid

The government will soon decide to offload additional stakes in Engineers India and Power Grid Corporation.

What's Hot

Excerpts from What's Hot on CNBC-TV18 Watch the full show »

The divestment bandwagon continues to roll on. This time it is Engineers India and Power Grid Corporation  - both listed firms, where the government will soon decide to offload additional stakes. The move is a part of the overall strategy that the government is attempting on this front.

Accordingly, the government may consider selling a fresh 5-percent stake in PowerGrid through the offer-for-sale route later this year. It is also going to consider the sale of another 10 percent stake in Engineers India.

Both proposals are expected to be taken up by the CCEA in the days to come, once the disinvestment department floats the proposals in this regard. Though the timelines have not been decided as yet, the government will try and ride the ongoing uptick in the stock markets.

Set email alert for
EngineersInd Power Grid Corp


video of the day

Mkt resilient at current level; bullish auto: ICICI Pru AMC

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.