The government got Rs 9,930 crore from its follow-on offer of NMDC shares, leaving it short by Rs 1,448 crore for its year's disinvestment target of Rs 25,000 crore. In addition, it got about Rs 2.5 crore by way of interest income on the issue money from banks.
SAIL and RINL at present produce about 18 million tonnes of the commodity. Navratna mining giant NMDC is in the process of setting up a three million tonnes per annum (MTPA)-steel unit in Chhattisgarh. Despite the prevailing economic slowdown, the expansion programmes of these public sector entities are going on full swing, Rastogi said, adding that SAIL is likely to hit the capital market to raise funds for the capacity augmentation.
Traditionally, most PSUs have been cash-rich, which added to their value. However, the government has been tapping regularly into their cash resources to boost revenue for the exchequer
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Come April, steel prices are likely to skyrocket on the back of an expected 65 per cent increase in iron ore prices.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The divestment department has lined up a host of companies.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Auto stocks will be in focus
The Maoists also looted 14 Self Loading Rifles, one 9 mm pistol, two wireless sets and huge amounts of explosive material, including detonators and fuses, stocked by the PSU for its own mining activities.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Putin's visit comes at a time when Russia's economy is stalling as oil prices tumble
'The target for next year is unlikely to be more than that of this year. The more you divest in any cycle, the less your potential pipeline for the next,' said an official. 'The first two issues we want to tackle and complete in FY20 are Air India and Hotel Ashok.'
Other companies which are on the block include NMDC, NALCO and IOC.
Arun Jaitley will aim for jumps in other revenue streams for the government.
As the Sensex continued with its record-breaking show, over 750 stocks hit one-year high levels on the Bombay Stock Exchange on Friday.
Out of nearly 30 public sector undertakings and assets under 'strategic sale' plan, only the ONGC-HPCL plan has been completed
TCS created wealth worth Rs 3,458 billion for the period 2010-15.
The finance ministry has short listed 11 PSUs for a possible buyback of shares in the ongoing financial year
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
It is the low cost of iron ore extracted from their adivasi homeland mines that enables steelmakers like Tata Steel and Essar, and miners like NMDC, not only to be among the most profitable companies in India, but also gives it the financial muscle to make huge overseas acquisitions. Ultimately, it is the poor adivasi who pays for it with his home and hearth and gets no credit for it! Either from the State, which connives in their exploitation, or the industry that lords over their resources, says Mohan Guruswamy.
The amount is around a fifth of the cumulative investment in fixed assets by these companies.
Using buyback as a divestment tool is not new, the amount raised this year is phenomenally high.
As per Sebi norms, a public sector listed company should have 10 per cent public float by August 08, 2013.
The Rs 63,000-cr Mumbai-Ahmedabad high-speed corridor and Rs 14,000-cr CSTM-Panvel suburban corridor are two of the largest projects.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
The broader NSE Nifty too fell below the 10,100 level by dropping 100.10 points to end at 10,094.25
In 2008, the 13 companies on the list accounted for 34 per cent of the overall m-cap.
Govt has drawn list of PSUs for strategic sale: Jaitley
The BSE Sensex zoomed 318 points to end at 33,351.57, while the broader Nifty spurted 88 points to 10,242.65.
In a bid to woo foreign investors, the Indian Railways is planning to organise road shows in select countries showcasing opportunities for investment in the rail sector.
BSE PSU index rallies 10% in one month; nearly a third of the stocks on the index has gained 20% over the period
Investors lost around Rs 1.57 lakh crore in market valuation on Friday.
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.
Having successfully implemented the 25 per cent free-float norm for private companies, the Securities and Exchange Board of India now wants the government to pare its holdings in public-sector undertakings to below 75 per cent.
The government will unveil the Consumer Price Index data and the Wholesale Price Index data for August on Monday.
Rising oil prices and diminishing cash pile to limit capacity in 2018-19
Expects to raise Rs 9,300 crore from Indian Oil share sale on Monday
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