Nalco shares unfazed by deferral of divestment date

Shares state-run National Aluminium Company (Nalco) were unmoved on Thursday, after the government decided to push back the decision on divesting its stake in the company to the January-March quarter.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead Masteryourmoney Earnings
moneycontrol.com

Home » News » Business

Nov 08, 2012, 01.51 PM | Source: Moneycontrol.com

Nalco shares unfazed by deferral of divestment date

Shares state-run National Aluminium Company (Nalco) were unmoved on Thursday, after the government decided to push back the decision on divesting its stake in the company to the January-March quarter.

Like this story, share it with millions of investors on M3

Nalco shares unfazed by deferral of divestment date

Shares state-run National Aluminium Company (Nalco) were unmoved on Thursday, after the government decided to push back the decision on divesting its stake in the company to the January-March quarter.

Post Your Comments

Share Cancel

Nalco shares unfazed by deferral of divestment date
Shares state-run National Aluminium Company (Nalco) were unmoved on Thursday, after the government decided to push back the decision on divesting its stake in the company to the January-March quarter.    

"It is not happening now. It will happen in the next quarter...After third quarter results we will decide," minister of state for mines Dinshaw Patel said, after a panel of ministers met to discuss the share sale. Some media reports had said the issue could be launched as early as this week.

The government plans to sell a 12.15 percent share sale in the company to restart a stalled divestment programme that is crucial to plug the government's widening fiscal deficit. At current market price, the Nalco sale could raise as much as USD 267 million.

The finance ministry's attempts to speed up disinvestment have not met with much success seven months into the year but the government is still hopeful of meeting the target. New Delhi aims to raise Rs 30,000 crore through share sale in state-run companies in the current fiscal year, that ends next March, but has thus far drawn a blank as weak market conditions have deterred public issues or auctions.

(With inputs from Reuters)

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Nalco shares unfazed by deferral of divestment date

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login