Some overseas investors refuse to be part of roadshows, citing environment risks
IT, FMCG and manufacturing sectors are less attractive to foreign portfolio investors
A day after the Union Cabinet paved the way for the government reducing its stakes in Oil and Natural Gas Corporation (ONGC), Coal India Ltd (CIL) and NHPC, the shares of these companies fell 3.4-5.2 per cent on bourses.
If the power plants are reporting low coal stocks with them, it is largely because they have improved their power generation to meet higher demand.
From the 30-share pack, 24 companies fell, with Yes Bank emerging as the top loser, dropping 8.36 per cent, followed by NTPC, M&M and Vedanta.
The Budget doesn't do any obvious harm and it might encourage a revival in certain beaten-down sectors.
The petroleum ministry has agreed to the proposal of the department of industrial policy and promotion and it would be taken to the Cabinet along with the general review of the FDI policy in September.
To check fiscal deficit, government needs to drastically cut Plan expenditure.
Operations in the Neyveli Lignite Corporation remained paralysed as the indefinite strike by its workers protesting the Centre's decision to disinvest 10 per cent shares in the public sector company entered the third day on Thursday.
Budget should be a platform for govt to take bold steps.
Market volatility has prompted the government to postpone the disinvestment of its residual 10.27 per cent stake in Maruti Udyog Ltd to the next financial year.
For first time in 8 yrs, stake sale proceeds could exceed Budget Estimates. ONGC's acquisition of HPCL alone could get the exchequer more than Rs 30,000 crore.
Understanding how money works is the first step toward making your money work for you, says Harshad Chetanwala, co-founder MyWealthGrowth.
There is logic at work in most of what has been announced by Arun Jaitlley.
The Left has warned the government to scrap its plans to offload BHEL shares in the market.
Air India had stopped the practice of issuing tickets on credit to government agencies for the travel of their officials in December last year because of accruing pending bills.
The government has received three preliminary bids for buying of controlling stake in India's second-largest fuel retailer Bharat Petroleum Corporation Ltd (BPCL), Oil Minister Dharmendra Pradhan said on Wednesday. Mining-to-oil conglomerate Vedanta had on November 18 confirmed putting in an expression of interest (EoI) for buying the government's 52.98 per cent stake in BPCL. The other two bidders are said to be global funds, one of them being Apollo Global Management.
"There is no plan to disinvest in BSNL," Telecom Secretary J S Sarma told reporters
The list mostly contains PSUs which were up for sale in the last fiscal.
The four are said to be belonging to the ruling Communist Party of India-Marxist's union outfit -- CITU, one of the 10 trade unions, which were on strike on Wednesday.
Ernst & Young LLP India has been appointed as transaction adviser for the strategic divestment process.
As per the budget document presented in Parliament, public sector enterprises, including banks, are expected to contribute Rs 88,188 crore in the form of dividend and profit to the government in the current financial year.
Gold demand fell 15 percent in 2013 as huge outflows from physically backed investment funds outweighed record consumer demand, but that heavy disinvestment is tailing off this year, pointing to a recovery, the World Gold Council said.
Gold demand fell 15 percent in 2013 as huge outflows from physically backed investment funds outweighed record consumer demand, but that heavy disinvestment is tailing off this year, pointing to a recovery, the World Gold Council said.
Hindustan Organic Chemicals Ltd has informed BSE that the Ministry of Disinvestment is in the process of considering the proposal for divestment of equity shares of about 32.61% held by the government in HOCL.
To meet the revised estimates for 2019-20, the central government will have to garner Rs 5.03 trillion in total revenues in March, which has seen the worst phase of the coronavirus pandemic so far and the resultant lockdown.
Bangladesh might overtake India this year by per capita income in nominal dollars, but it is not yet close to becoming South Asia's economic powerhouse anytime soon, T N Ninan points out.
The Indian stock markets may turn bearish after the US Fed decides to raise interest rates.
While most experts suggest the government loosen its purse strings and not worry about the fiscal deficit in a pandemic impacted year, it will be a tightrope walk for the government to increase spending without going overboard.
.jpg)
It is a non-deal roadshow that begins amid threat of workers strike against divestment move
"This is a big scam. The country is being looted. Please allow us to speak," Congress leader in Lok Sabha Adhir Ranjan Chowdhury said.
Govt bosses in no hurry to exit from PSUs; many agencies, long process likely hurdles.
Plans disinvestment in IOC and Coal India.
GST implementation could happen in September itself, with the next meeting of the Union Cabinet likely to take up the matter.
Indian indices fell more than those of most other emerging markets.
About 48.5 million shares, or 20 per cent of the shares on offer, are reserved for retail investors
PSU divestment, LIC IPO, fiscal deficit: Budget 2021 marks a clear change in the Modi government's stance from fiscal conservatism to growth orientation.
But their trajectory and direction have been largely influenced by politics and the political leadership's understanding of how the economy needs to be managed, explains A K Bhattacharya.
