Upcoming Webinar :Register now for 'ULIP as an investment during economic recovery' powered by Bajaj Allianz

Govt May Look To Cut Stake In BHEL, NMDC: Report

However, these two companies are not a part of the 23 public sector undertakings (PSUs) lines up for strategic disinvestment.

Oct 17, 2019 / 05:30 PM IST

The government may consider bringing down its stake in state-owned Bharat Heavy Electricals (BHEL) and National Mineral Development Corporation (NMDC), sources told CNBC Awaaz.

The stake in BHEL may be pared in tranches to 26 percent from 63.17 percent now.

An inter-ministerial group is expected to meet soon to discuss the stake sale.

The government may also look to sell the state-run power player's non-manufacturing units to private players.

Four to five units of BHEL are reportedly marked for sale to private players this fiscal.

Close

Earlier this month, the government cleared disinvestment in five PSUs, a move which is expected to cover nearly 60 percent of its disinvestment target for this financial year.

The government has a divestment target of Rs 1.05 lakh crore for the current financial year. In both FY18 and FY19, the divestment proceeds exceeded the target of Rs 1 lakh crore and Rs 80,000 crore, respectively.
Moneycontrol News
Sections