Suuti

SUUTI is mulling to sell the stake through the Offer For Sale (OFS) route and is awaiting for the Sebi approval.

SUUTI stake sale in Axis Bank may bring in Rs 5,100 crore: Report

Institutional investors bid for over 11.69 crore shares, 2.56 times the 4.56 crore shares on offer for them, according to data from the National Stock Exchange.

RCF share sale gets oversubscribed by institutional buyers

Of its total holding of 80 per cent in Rashtriya Chemicals and Fertilisers (RCF), the government is selling 5 per cent, or over 2.75 crore shares, at a floor price of Rs 74.25.

Government sells $619 million stake in Larsen & Toubro

The stake, held by the state-owned Specified Undertaking of Unit Trust of India (SUUTI), was sold through block deals in stock markets, said Neeraj Gupta, the top bureaucrat looking after government stake sales, confirming earlier media reports.

FinMin to divest stake in ITC, sources say; another LIC buyout possible?

In the past, the government has received criticism for asking LIC to buy stake in ITC, a tobacco company.

Govt relaxes conflict of interest clause for bankers participating in PSU divestment

Clarifying on the 'conflict of interest' clause, the department of public asset management (Dipam) has allowed the participating investment banks to take up certain types of capital market offerings by rival companies in the private sector.

Govt raises Rs 46,247 crore from PSU stake sale, exceeds RE

The government has raised a record Rs 46,247 crore through disinvestment, of which Rs 10,779 crore has come from strategic disinvestment and SUUTI's investment.

NITI Aayog suggests strategic divestment in 12 PSUs: Report

The companies listed so far include National Textile Corporation, Fertilisers and Chemicals Travancore, Hindustan Antibiotics, Scooters India and Hindustan Fluorocarbons.

Govt may sell stake in Axis Bank, ITC, L&T via ETF: Report

Sources privy to the development say that this ETF would be larger than the Central Public Sector Enterprises (CPSE) ETF, a fund unveiled in 2014 that was made up of the government’s shares in state-owned companies.

Move to invest in equities over & beyond limit an exception: LIC

Earlier this month, the government divested 2 percent of its stake held in ITC held through the Specified Undertaking of the Unit Trust of India (SUUTI). LIC bought this 2 percent taking its overall shareholding to 16.32 percent.

COMMENT: Axis Bank suitor list grows, but Kotak unlikely to overpay

From the only eligible reported proposal of a Kotak Bank, the list has now widened to include other big names like ICICI Bank, HDFC Bank and HDFC. There could be some over-ambitious mid-sized players also queueing up over the next few weeks.

No communication on Axis-Kotak merger: Finmin sources

The Finance Ministry has not received any communication with regard to reported merger of Kotak Mahindra Bank and Axis Bank, a senior official said.

Can ITC stake sale by SUUTI be termed divestment?

Speaking to Moneycontrol, JN Gupta, Co-founder and MD of proxy advisory firm Stakeholders Empowerment Services (SES) said that in real sense, one arm of the government is the seller and other is the buyer, so at best it a resource [mobilisation] exercise by the government."

Kotak-Axis merger in the works? Both banks say no

A top fund manager was quoted as saying that the largest consolidation in the banking sector is being explored by the shareholders of the two banks, according to a report in The Times of India.

Govt sells 2% SUUTI stake in ITC; FY17 divestment goal in sight

In early trade Tuesday, the government has divested 2 percent of its stake held in ITC held through the Specified Undertaking of the Unit Trust of India (SUUTI).

ITC hits record high after lower-than-expected excise duty hike

Cigarette major ITC shares hit record high of Rs 269.50, up 4.5 percent intraday Wednesday as excise duty hike was within the analysts' expectations limit.

Budget 2017: Govt seeks to raise Rs 72,500 cr via divestment, up 60% YoY

On Wednesday, Finance Minister Arun Jaitley announced a divestment target of Rs 72,500 crore for FY18, 60 percent higher than the previous fiscal's revised estimate of Rs 45,500 crore.

Commodities likely to lead as as market bottoms out: Gujral

In an interview with CNBC-TV18, market expert Ashwani Gujral said that as the market bottoms out, metals could be the first sector to move higher and probably the sector that will lead the market is going to be commodities.

Government raises 2,100 crore from share sale in L&T: Report

The stake sale is part of the government's plan to raise Rs 565 billion from asset sales during the current fiscal year to March to help contain its fiscal deficit at 3.5 percent of the gross domestic product.

L&T slips 3% as govt sells 1.6% of SUUTI holding

The SUUTI was formed back in 2003 as an extension of the UTI. It consists of 51 companies-8 unlisted and the rest 43 listed. Through SUUTI, the government holds minority stake in these companies and is planning to divest its shareholding.

Market may be volatile as global cues drag; ITC, L&T in focus

After the GST rates are finalised, ITC is expected to gain as fears of 40 percent rate abate. ITC holds 7 percent weightage in the Nifty.

SUUTI sale: Sources say govt to divest 3% stake in L&T on Nov 4

L&T shares worth Rs 4040.41 crore as per Thursday's closing price are expected to be sold on November 4.

Think IT is toast? Nilesh Shah says climb down the mcap ladder

With the recent downslide in the IT sector, one should keep an eye out for Tier-II stocks in the midcap space which are likely to grow at the cost of some of the large players, says Nilesh Shah of Envision Capital.

After Hindustan Copper, govt eyes stake sale in other PSUs

In accordance with its plan to dilute share in public sector undertakings (PSUs), the government is now looking to sell some of its stake in NMDC, NALCO, BHEL via offer for sale (OFS) route.

Axis Bank stake sale by SUUTI not likely immediately: Sources

Stake sale by Specified Undertaking of the Unit Trust of India (SUUTI) in Axis Bank is unlikely to happen anytime soon as the paperwork is yet to be completed, reports CNBC-TV18.