State-owned Life Insurance Corp's (LIC) holding in state-run Oil and Natural Gas Corp has risen to 9.48% after a share sale auction in the company by the government last week.
Siddharth Pradhan, additional secretary of the Department of Disinvestment, tells CNBC-TV18 that they do not regret setting the ONGC auction floor price at a premium.
Speaking to CNBC-TV18, Prithvi Haldea of Prime Database says that the need of the hour is to revisit the entire divestment agenda and the procedure. Check out his comments.
With the impending election results from UP, what effect shall it have on the market and which side will it trade today?
From early on this morning, it appeared that the market would be range bound. At no point did it show extraordinary strength or weakness. It is perhaps waiting for election results on Tuesday to make a more decisive move, says Udayan Mukherjee, managing editor, CNBC-TV18.
The government's failure to sell all of the shares in its $2.5 billion auction of a five percent stake in Oil and Natural Gas Corp is an embarrassing setback in its effort to revive stock sales and trim a yawning fiscal deficit.
Karvy Stock Broking has come out with its report on currency. As per the research firm rupee range for the day is seen between 48.90-49.35.
Where did the mysterious 12 crore shares of the ONGC auction come from? Sajeet Manghat of CNBC-TV18 has the full story. Check it out!
It was indeed a bad day for the market as the Nifty slipped 1% to close at 5340, as global markets failed to rally post the LTRO-II as was expected.
RS Sharma, former chairman of ONGC tells CNBC-TV18 that sentiment seems to have got adversely affected since the ONGC auction did not get fully subscribed. He reitrates that Rs 280 would have a perfect base price.
Speaking to CNBC-TV18, RS Sharma, former chairman of ONGC says that the auction route is a disappointment for retail investors. “However, the government will get money in faster through auction than FPO or other modes,” he says.