Government approval to stake sales in four state companies
To further divestment programme, Govt of India cleared stake sales in four state-run companies. The move is expected to give a fillip to the reform agenda.
The cabinet approved stake sales in:
- Hindustan Copper Ltd
- National Aluminium Co Ltd
- MMTC Ltd
- Oil India Ltd.
The govt targets to generate 300 billion rupees through share sales in state-run companies in the current fiscal year that ends in March 2013, but weak market conditions are proving hindrance to the objective.