Govt to sell 5% in SAIL this fiscal: Jaitley

Posted By: Super
Subscribe to GoodReturns
For Quick Alerts
Subscribe Now  
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts
    Govt to sell 5% in SAIL this fiscal: Jaitley
    Government will sell 5 percent stake in SAIL in the current fiscal, Finance Minister Arun Jaitley said today.

    "...5 percent disinvestment (of SAIL) is tentatively scheduled for completion in the current financial year," Jaitley said in a written reply in the Rajya Sabha. At the current market price of Rs 88.95, a 5 percent stake sale could fetch over Rs 1,800 crore to the exchequer. Government holds 80 percent stake in SAIL.

    The Cabinet had in July 2012 approved a 10.82 percent stake sale in SAIL. Accordingly, the first tranche of disinvestment of 5.82 percent was completed in March 2013.

    The interim budget had proposed to raise Rs 36,925 crore from stake sale in public sector undertakings. The full budget for 2014-15 to be tabled in Lok Sabha on July 10 is likely to revise upwards the target. 

    So far this year the stock markets have rallied over 21 per cent.

    PTI

    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more