Govt to sell 5 pc in SAIL this fiscal: Jaitley

Tags: News
Government will sell 5 per cent stake in SAIL in the current fiscal, Finance Minister Arun Jaitley said today.

"...5 per cent 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 per cent stake sale could fetch over Rs 1,800 crore to the exchequer.

Government holds 80 per cent stake in SAIL.

The Cabinet had in July 2012 approved a 10.82 per cent stake sale in SAIL. Accordingly, the first tranche of disinvestment of 5.82 per cent 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.

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E-mail ID will not be published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

  • This is right time for retail investors to enter the debt market

    Quite often, retail investors are ridiculed for entering the equities market in droves, signalling the first signs of a bubble on the Street.

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

Arun Nigavekar

Cost of education must be controlled

In India, we pay very little attention to the cost ...

Zehra Naqvi

What imperfections in nature teach man

Each one of us has faced a time when we ...

Dharmendra Khandal

A wondrous world under the ground

Burrows and dens are safe homes for many kinds of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture