NHPC plans to issue 10 per cent of its new equity shares in the public offer, while the government alongside will divest its five per cent stake in the company. According to the listing norms by market regulator Sebi, independent directors should form 50 per cent of the board which is headed by executive chairman. To meet Sebi norms, NHPC should have seven independent directors on board before it can go to the market.
This is also the first stake sale by a state-run company in 17 months after REC went public in February 2008 to raise over Rs 1,600 crore (Rs 16 billion). The issue will open on August 7 and close on August 11. The company would sell 168 crore (1.68 billion) shares comprising of five per cent stake divestment of the government and infusion of 10 per cent fresh equity.
The initial public offer of NHPC Ltd, the state-run hydropower producer, was subscribed 3.54 times what was on offer on Friday, the opening day.
RBI's interest rate decision, quarterly earnings and global cues would be the major driving factors for equity markets this week, analysts said adding that the impact of the Union Budget could linger on this week. Trading activity of foreign investors will also be a key driver for the markets, experts noted. "US and India's manufacturing PMI for January to be released on Monday, will be the key macro data to watch out for.
RBI interest rate decision, macroeconomic data and global trends would guide markets' movement this week, analysts said. Besides, trading activity of foreign investors and the last batch of Q1 earnings announcements would also guide trends in equities. HSBC PMI (Purchasing Managers' Index) for the services sector is scheduled to be announced on Monday.
In all, 25 Chairman-cum-Managing Director (CMD) posts, 8 MD posts and 2 Chairman posts are lying vacant, according to a written reply by Minister of State for Heavy Industries and Public Enterprises P Radhakrishnan in the Lok Sabha.
Reliance Industries has regained the top slot among Indian energy companies on the Platts global list
Bharat Heavy Electricals Ltd (BHEL) is India's largest engineering and manufacturing enterprise, operating across energy, industry, and infrastructure sectors. The investment path for the stock is based on a large order backlog, continued strong order inflows, and rising power demand, which should push demand for BHEL's equipment and services. BHEL has historically held over 70 per cent market share in power projects.
Offloading shares in ONGC, CIL, NHPC may fetch govt more than the year's target.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Either the stake in these companies will be sold or they may partner private firms.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra answers reader queries on the stock market.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Ajit Mishra answers reader queries on the stock market.
Areas in East and Central Delhi face a blackout risk from Saturday as the State-run National Thermal Power Corporation on Friday rejected the Delhi government's plea not to stop electricity supply to the BSES Yamuna Power Ltd for defaulting on payments.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'Is it advisable to have more number of scrips in small quantities or a few scrips in big quantities?'
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.
Unable to kickstart its maiden transmission project even two years after winning the bid, Reliance Energy Ltd has now sought government intervention to ensure that state-run Power Grid Corporation of India Ltd signs the joint venture agreement.
Reliance Infra claims the run by the market operator has caused a loss of Rs. 300,000 crore to infrastructure stocks.
The project on the river Jhelum located near Salamabad village in Uri is being constructed by the National Hydro-electric Power Corporation Ltd.
Going by the experience of the previous years -- when the actual proceeds from stake sale were much lower than the targets -- the government's disinvestment target for 2014-15 appears too ambitious.
Billionaire Gautam Adani's Group on Wednesday announced the acquisition of SoftBank Group Corp's renewable power business in India for a deal value of $3.5 billion (approximately Rs 25,500 crore), to become the world's largest solar company. In a statement, Adani Green Energy Ltd, the renewable energy unit of the port-to-energy conglomerate, said it has inked share purchase agreements to buy 100 per cent of SB Energy India from SoftBank and Bharti Group. Without giving deal details, the statement said the transaction values SB Energy India at an enterprise valuation of approximately $3.5 billion, it stated. The transaction marks the largest acquisition in the renewable energy sector in India.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The list mostly contains PSUs which were up for sale in the last fiscal.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
This will encompass the sale of Air India, a number of other privatisation initiatives, mergers, initial public offerings, the Centre's two exchange-traded funds, buybacks and offers-for-sale, and even monetisation of land assets.
If nothing is done, the country is set to become 83 per cent energy-import-dependent by 2040.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Chief Minister Arvind Kejriwal on Friday accused BSES discoms of trying to "blackmail" the government by threatening power cuts upto 10 hours a day, and warned them of strict action including possible cancellation of licenses.
Kicking off its disinvestment drive, the government will sell 5 per cent of its stake in steel major SAIL on Nov 5.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The government is bullish on Coal India and ONGC's stake sale programme which are to be held soon.
Divestment in PFC, REC, NHPC, Nalco, Hindustan Copper and NMDC could be considered
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