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.
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.