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.
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.
LIC owns 3.69 per cent of the total listed universe based on available disclosures, the lowest since at least June 2009.
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.
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.
Out of nearly 30 public sector undertakings and assets under 'strategic sale' plan, only the ONGC-HPCL plan has been completed
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.
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.
About 48.5 million shares, or 20 per cent of the shares on offer, are reserved for retail investors
Beat gains made by mid-cap, broader indices.
This Budget signals a shift from a hand-out to a hand-up economy.