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.

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