As per news reports, government is planning stake sale in Oil and Natural Gas Corporation (ONGC) by March, and is also finalising the details of oil subsidy-sharing scheme.
The divestment would take place in all probability in March, and the amount is 5% which will earn the government nearly Rs, 15,000 to 18,000 crore. The price of ONGC's scrip will be a big deciding factor in ONGC's divestment.
Under the chairmanship of Bimal Jalan, a panel would submit the recommendations about the long-term subsidy roadmap in areas like food, oil and fertiliser.
Drop in the oil prices have been a big relief to the government at the center, as the fuel subsidy burden is reduced.
The current market capitalisation of ONGC stands at Rs 291,057.77 crore.The company has reported a standalone sales of Rs 20,361.14 crore and a Net Profit of Rs 5,444.89 crore for the quarter ended Sep 2014.
The divestment would take place in all probability in March, and the amount is 5% which will earn the government nearly Rs, 15,000 to 18,000 crore. The price of ONGC's scrip will be a big deciding factor in ONGC's divestment.
Under the chairmanship of Bimal Jalan, a panel would submit the recommendations about the long-term subsidy roadmap in areas like food, oil and fertiliser.
Drop in the oil prices have been a big relief to the government at the center, as the fuel subsidy burden is reduced.
The current market capitalisation of ONGC stands at Rs 291,057.77 crore.The company has reported a standalone sales of Rs 20,361.14 crore and a Net Profit of Rs 5,444.89 crore for the quarter ended Sep 2014.
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