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.

EDITORIAL OF THE DAY

  • RBI governor reveals simple facts and figures on the health of PSU banks

    RBI governor Raghuram Rajan has built a solid reputation of administering bitter pills to the discomfiture of the mandarins in New Delhi.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Simon J Evenett

Pulling out all stops & Trump cards

Donald Trump, the Republican Party nominee for US president, is ...

Zehra Naqvi

Let others show you what they see

The power to imagine yourself in someone else’s shoes, to ...

Dharmendra Khandal

When it rains, this beetle starts rolling dung

On the buffer road of a forest, a small metallic ...