Synopsis Even the best of the rational brain can make wrong decisions when there is too much noise which gets created due to a narrative. Now for the last few days a narrative has been created that due to polls, FPI are selling. These kinds of narratives tend to hit the sector and stocks which … Read more
New Delhi: The government is considering the divestment of 5-10% stake in public sector lenders in which it currently holds over 80% equity. A detailed roadmap is expected to be firmed up soon, said people with knowledge of the matter. Government ownership exceeds 80% in six state-run banks – Bank of India, Indian Overseas Bank, … Read more
New Delhi: The finance ministry is reviewing its disinvestment schedule following the recent stock market selloff amid high volatility triggered by global factors, said people aware of the details. The ministry is likely to adopt a “prudent selloff” approach now, one official told ET, adding there won’t be “divestment for the sake of divestment anymore” … Read more
Any public disinvestment programme, by construct, is a public process. While the bidding is confidential, the process is very public. Most activities are known in the public domain either directly or through leaks. Though this may not cause much concern in the case of unlisted PSUs such as Air India, for a listed PSU, there … Read more
The government has sought proposals from merchant bankers and legal advisors which will be empanelled for two years and help government divest its holdings through dribbling or issuing offer for sale (OFS) of central public sector enterprises from time to time. The department of investment and public asset management (DIPAM) has asked for proposals by … Read more
An investment arm of Chinese e-commerce giant Alibaba Group Holding Ltd, targeted in a regulatory crackdown, will divest its entire stake of 5.01% in broadcaster Mango Excellent Media Co Ltd, the media firm said. The sale comes less than a year after the investment in December last year, as Chinese authorities mount an anti-trust crackdown … Read more
Past losses of public sector units undergoing strategic divestment can be carried forward for setting off against future profits, the Central Board of Direct Taxes (CBDT) said Friday. The change in income tax law has been made in a bid to make strategic divestment of PSUs more attractive, said experts, since normally such a set-off … Read more
NEW DELHI: The government has garnered Rs 19,499 crore through CPSE disinvestment and share buyback so far in 2020-21, as against the Rs 2.10 lakh crore budget target set for the entire fiscal year ending March 31. With COVID-19 related delays impacting big ticket strategic sales and listing of insurance behemoth LIC, the government is … Read more