The Securities and Exchange Board of India (SEBI) and the government are looking at various options to work around the challenges the Centres faces to offload its stakes in public sector companies to meet the August 2017, reported Business Standard.
Moneycontrol undertook a study to find out the number of companies in which the promoters held maximum stake. As a filter, we shortlisted companies from a total of 279 companies whose market capitalisation was over Rs 10,000 crore.
In the Budget for 2015-16, the government has emphasised that it would emphasise on investments to propel growth and has also projected a fiscal deficit target of 3.9 percent of GDP.
Most of the public sector companies have complied with the norms. Entities including STC and ITDC had offloaded their shares last week to meet the Sebi norms that require government entities to have at least ten percent public shareholding.
The Inter-Ministerial Group (IMG) on coal blocks has recommended de-allocation of two coal mines allocated to PSUs on the ground of companies not developing them, sources said.
Global agency Fitch on Monday lowered the rating outlook of public sector companies including NTPC, SAIL and IOC to 'negative', but said the downgrade of India's credit outlook to 'negative' would not impact the rating of Reliance Industries.
Hem Securities has come out with its analysis report on National Buildings Construction Corp (NBCC)'s IPO. The research firm has recommended subscribing to the issue for limited upside.
While every macro economic parameter is looking difficult, perhaps the most important one will be growth. CNBC-TV18 catches up with the chairman of the country's biggest bank, Pratip Chaudhury of SBI to get a sense of where the economy is headed in 2012.