Container Corporation of India Ltd has posted a net profit of Rs 688.60 million for the quarter ended December 31, 2002 as compared to a net profit of Rs 630.80 million in the corresponding period last fiscal.
The department of investment and public asset management is racing against time to launch the LIC IPO, which could become the largest-ever listing on the Indian bourses. This would lead to some delay in the strategic divestment of IDBI Bank.
Officials said there had been no official word or indication from the top yet. The expectation from officials is to do what they can, but it is understood that all fiscal and budgetary targets don't matter anymore.
At the same time, the Cabinet approved reducing government's stake in select PSUs such as IOC to below 51 per cent while continuing to retain management control.
If the fiscal deficit for the year can be maintained at Rs 7.04 trillion, the deficit as a percentage of GDP will slip to 3.44 per cent
Government-owned companies are more generous in rewarding their shareholders with dividends.
Finance Minister Nirmala Sitharaman on Monday presented the Budget for 2021-22 in the Lok Sabha that is expected to provide relief to the pandemic-hit common man as well as focus more on driving economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours, As India emerges from the COVID-19 crisis, the ninth Budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
The government is bullish on Coal India and ONGC's stake sale programme which are to be held soon.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
In the last two months, these stocks have lost nearly a quarter of their market cap.
In the last two months, these stocks have lost nearly a quarter of their market cap.
Modi's'Make in India' drive launched last September included laying out a model of "port-led" development that would support industrial growth.
Investors booked profits at higher levels despite the growth oriented Budget.
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