CIL sells Rs 550 cr shares towards CPSE's exchange traded fund

Tags: CIL, CPSE, Companies
Coal India has sold shares worth over Rs 550 crore towards the CPSE's exchange traded fund as part of government's disinvestment programme.

The PSU has sold 2.2 crore shares amounting to Rs 550.6 crore, Coal India (CIL) said in a filing to BSE.

The ETF gives investors an opportunity to diversify their portfolio through cost-effective investment in blue-chip public sector companies across sectors at a 5 per cent discount.

The CPSE ETF basket comprises shares of 10 companies — Oil & Natural Gas, GAIL, Coal India, Rural Electrification, Oil India, Indian Oil, Power Finance, Container Corporation of India, Bharat Electronics and Engineers India.

An ETF basically tracks a particular index and its returns are based on the performance of that index.

ETFs have grown significantly in the past few years in India and their assets under management have gone up from Rs 1,396 crore in March 2009 to Rs 11,807 crore in September 2013. ICICI Securities advised the government on the ETF.

Coal India had in January declared an interim dividend of Rs 29 per share, amounting to Rs 18,317 crore, for 2013-14.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • For those who are left to survive a war-torn world, let there be peace

    The hunger games have begun, and they have started reaping our children. There is no way around it.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schöttli

Shifting sands in the Far East

As was to be expected, Japanese prime minister Shinzo Abe ...

Zehra Naqvi

When humanity died, bestiality prevailed

The terrorist attack that killed 132 children in Peshawar has ...

Bubbles Sabharwal

Why self-esteem must be your best friend forever

Two negatives do make a positive! Imagine no doubts, no ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture