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Sep 06, 2012, 09.52 AM IST
The government's plans to divest stake in PSUs is gathering pace. Stake sale in a whole host of companies are likely in the coming few days. CNBC-TV18's Aakansha Sethi reports.
The government's plans to divest stake in PSUs is gathering pace. Stake sale in a whole host of companies are likely in the coming few days. CNBC-TV18's Aakansha Sethi reports.
About 15 PSUs are on the divestment list this year, but for now, MMTC and Neyveli Lignite are going to go for cabinet approval next week. The government is planning to divest 9.33% stake in MMTC, but only 5% stake in Neyveli Lignite as there are trade union issues. It is looking at a special allotment of shares for employees. Apart from this, the government is looking at BHEL , Hindustan Copper , SAIL , Oil India , NALCO and NMDC . However, some of the ministers are playing tough with the government, especially the oil ministry and steel ministry. The oil ministry does not want Oil India to be one of the first divestments to go ahead. These issues are likely in December. BHEL and Hindustan Copper may have a timeline of November. After that the government is going to go in for a fresh set of approvals from the cabinet for Q4. The tracker fund that the government is working on is also now close to conclusion and that is also likely - the first PSU ETF to be seen in the Q4 of this fiscal.
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