The government's offer for partial divestment of its stake in Dredging Corporation of India Ltd has been oversubscribed 5.45 times at end of bidding on Thursday.
West Bengal Chief Minister Mamata Banerjee has accused the Damodar Valley Corporation (DVC) of releasing water recklessly and without prior intimation, creating a flood-like situation in south Bengal districts during Durga Puja.
Dredging Corporation of India Ltd has posted a net profit of Rs 240.90 million for the quarter ended December 31, 2002 as compared to Rs 343.30 million in the quarter ended December 31, 2001.
Union Shipping Minister T R Baalu would monitor the project to ensure that physical and financial targets were met and a separate mechanism was being set up in the Shipping Ministry to monitor the project.
Air India sale will give a boost to India's privatisation drive, the Economic Survey said on Monday, as it suggested redefining the public sector role in business enterprises to encourage private participation in all sectors. The government earlier this month handed over ownership rights in national carrier Air India to Tata Group for Rs 18,000 crore. The amount includes the takeover of the debt burden of Rs 15,300 crore and another Rs 2,700 crore in cash.
'He asserted in his usual jovial style that he was not an MBA like his audience at IIM-Ahmedabad but perhaps had an even better business degree: MBB'. 'He went on to explain to his perplexed, blue chip B-School audience that MBB stood for "Marwadi by birth"!' Shivanand Kanavi salutes Shashi Ruia, co-founder of the Essar group who passed into the ages on November 25, 2024 in Mumbai.
West Bengal Chief Minister Mamata Banerjee on Friday wrote to Prime Minister Narendra Modi, saying that her state would sever all ties with the Damodar Valley Corporation (DVC) for 'unilaterally releasing water', which led to floods in south Bengal districts.
'Modi knows the people here are opposed to this project, but he is using the might of government to push this port down our throats.'
The divergence shows lack of financial depth in the Indian stock markets.
As many as 20 central public sector enterprises and their units are at various stages of strategic disinvestment, while six are being considered for closure or are under litigation, Minister of State for Finance Anurag Singh Thakur said on Monday.
The project is currently under litigation after environmental concerns were raised against the plan of linking the PalkBay and the Gulf of Mannar by creating a shipping channel through the shallow sea, says Ruchika Chitravanshi.
LIC owns 3.69 per cent of the total listed universe based on available disclosures, the lowest since at least June 2009.
The government on Thursday fixed Rs 358 a share as the floor price for up to 10 per cent stake sale in Coal India on Friday, which may help the exchequer garner about Rs 22,600 crore (Rs 226 billion) in the biggest sale of shares.
The government is selling over 41.22 crore shares or 5 per cent stake in NTPC.
Out of nearly 30 public sector undertakings and assets under 'strategic sale' plan, only the ONGC-HPCL plan has been completed
Govt seems to bullish to meet its disinvestment target in current fiscal.
Biggest ever share sale by any private or public sector co in India.
The IOC stake sale will, however, dwarf in front of Rs 22,557 crore or Rs 225.57 billion that the government raised through a stake sale in Coal India Ltd last year.
About 48.5 million shares, or 20 per cent of the shares on offer, are reserved for retail investors
Finance Minister Arun Jaitley, in the Budget for 2015-16, is likely to target around Rs 43,000 crore (Rs 430 billion) from divestment proceeds, almost the same level that the government expects to realise from stake sale in PSUs this fiscal.
There are 30 listed PSUs in which the public holding is less than 25%.
A chunk of divestment till now has come from follow-on offerings in the Centre's two ETFs, Bharat-22 and CPSE. Now, there will be initial public offerings of Mazagon Docks, rail companies RVNL and IRFC and MSTC.
Infosys was the top Sensex loser along with other index heavyweights ITC and HDFC.
Pawan Hans, Dredging Corp on list to meet target of Rs 800 bn for 2018-19
Beat gains made by mid-cap, broader indices.
Faced with criticism that water released from its dams in an 'unprecedented' manner led to the flooding of West Bengal, the Damodar Valley Corporation (DVC) on Wednesday said that it discharges water after taking consent of the state government and blaming it for the deluge is not justified.
The government is studying the impact of Supreme Court verdict in HPCL-BPCL case on the divestment process of Shipping Corporation of India in which some companies were merged through an Act of Parliament or by way of ordinance.
The divestment department has lined up a host of companies.
The Major Ports Authority Bill, 2020 was passed through ballot votes in the Rajya Sabha on Wednesday with 84 votes in its favour and 44 against it. The Lok Sabha had passed the bill on September 23 last year.
This Budget signals a shift from a hand-out to a hand-up economy.
'Prime Minister Manmohan Singh may be anxious for a farewell visit to Washington in October,' says retired Ambassador K C Singh, 'but bending backwards on America's PRISM policy is going to earn him scorn at home and contempt abroad.'
Arun Jaitley will aim for jumps in other revenue streams for the government.
Transportation via inland waterways is cost-effective and more environment-friendly than rail or road transportation
Govt has drawn list of PSUs for strategic sale: Jaitley
'The administration started intruding into the kitchens and bedrooms of the local community.'
'For the first time in 50 years the people of Lakshadweep who have till now never raised their hands, got out on the streets and started raising their voices.'
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