State firms up on govt stake sale hopes

Reuters Market Eye - Shares in state-run companies MMTC , Hindustan Copper and Dredging Corp of India surged 8-11 percent on hopes the government would initiate stake sales in these companies.
Those expectations come state-run National Building Construction Corp, a consultant for civil construction and real estate projects, said it aims to raise up to 1.27 billion rupees through a share sale that will see the government divest itself of a 10 percent stake.
The government has been looking pare its holdings in state firms, but it has been thwarted by weak markets.
India's stalled divestment programme also calls for reduced stakes in other state-run firms such as Bharat Heavy Electricals and Steel Authority of India.
(Reporting by Manoj Dharra and Rajesh Kurup; Editing by Rafael Nam)