English
Specials
    Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    HomeNewsBusinessWire NewsBHEL share sale likely next fiscal year - minister

    BHEL share sale likely next fiscal year - minister

    INDIA-MINISTERS-BHEL:BHEL share sale likely next fiscal year - minister

    February 15, 2012 / 14:20 IST

    NEW DELHI (Reuters) - A share sale by the government in state-run power equipment maker Bharat Heavy Electricals Ltd may happen next fiscal year, heavy industries minister Praful Patel said.
    A panel of ministers met on Wednesday to consider stake sale in BHEL, but did not take any decision on the matter, Patel told reporters.
    The planned stake sale in BHEL, which had been cleared by the cabinet last year, was expected to raise about $1 billion.
    India had planned to raise about 400 billion rupees from share sales in state-run firms this fiscal year that ends in March, but has so far only raised about $250 million.
    (Reporting by Arup Roychoudhury; Editing by Subhadip Sircar)

    first published: Feb 15, 2012 01:56 pm

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347