Stock Market

NEW DELHI: Finance ministry is banking on merger and acquisitions among CPSEs and share buybacks by state-run companies to meet the Rs 80,000-crore disinvestment target for the current fiscal.
The government has raised more than Rs 9,600 crore through IPOs of three CPSEs and a tranche of Bharat-22 ETF in the first six months of the fiscal so far.A finance ministry official said there are liquidity constraints in the market for the past 3-4 months and such conditions would persist till there are uncertainties in global markets and crude prices remain volatile.
We will meet the disinvestment target.
We are looking at acquisition of some state-run companies with similarly placed CPSEs, like PFC and REC, the official said.
The government is looking to sell its 65.61 per cent stake in state-owned PFC to REC, which could fetch about Rs 14,000 crore the exchequer.





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