NEW DELHI: The government is expected to decide on selling stake in three blue chip public sector companies — Nalco, Bheland NMDC — on Thursday after its move to sell shares inIndianOil and ONGC have run into rough weather in the wake of low oil prices.
The finance ministry has proposed a sale of 10% each in state-run mining firm NMDC and aluminum maker Nalco, while recommending a fresh 5% disinvest in heavy engineering major Bhel. Based on Wendesday's close on the Bombay Stock Exchange, sale of shares in the three companies is expected to fetch close to Rs 10,000 crore.
While the cabinet is scheduled to discuss the proposals on Thursday, it is not clear whether the share sale will be undertaken during the current financial year or is part of the list of PSUs where the government intends to disinvest its equity next year.
The finance ministry has proposed a sale of 10% each in state-run mining firm NMDC and aluminum maker Nalco, while recommending a fresh 5% disinvest in heavy engineering major Bhel. Based on Wendesday's close on the Bombay Stock Exchange, sale of shares in the three companies is expected to fetch close to Rs 10,000 crore.
While the cabinet is scheduled to discuss the proposals on Thursday, it is not clear whether the share sale will be undertaken during the current financial year or is part of the list of PSUs where the government intends to disinvest its equity next year.
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