SENSEX
NIFTY 50
Hang Seng
Taiwan Weighted
MCX GOLD OCT 05
MCX SILVER DEC 04
USD/INR
EUR/INR80.0630

SENSEX
NIFTY 50
NIFTY MIDCAP 100
S&P BSE MIDCAP
Hang Seng
Taiwan Weighted
DAX
Nasdaq
MCX GOLD OCT 05
MCX SILVER DEC 04
MCX CRUDEOIL OCT 19
MCX NATURALGAS SEP 25
USD/INR
EUR/INR
GBP/INR
JPY/INR

Stock Market Highlights: Market ends in the red for 4th day

Asian stocks fall on concerns about fresh lockdowns, banking sector

Oil refiners worldwide struggle with weak demand, inventory glut

Euro catched eye after ECB meet; pound shows resilience, dollar struggle continues

India

Government plans to sell stake in HAL and BDL through OFS in Q2FY21

Updated : August 26, 2020 08:45 PM IST

The Narendra Modi government is planning to sell up to 15 percent stake in Hindustan Aeronautics Ltd (HAL) and 15-18 percent in Bharat Dynamics Ltd (BDL) through an offer for sale (OFS) in the second quarter of this fiscal, sources privy to the developments told CNBC-TV18.

According to multiple people familiar with the development, the government is looking to raise Rs 3,000 crore from HAL and Rs 600-700 crore from BDL sale. The government shareholding in Hindustan Aeronautics currently stands at 89.97 percent and for Bharat Dynamics, it currently stands at 87.75 percent.

Also, merchant bankers have been appointed for both OFS issues. The department of investment and public asset management (DIPAM) in January had invited bids from merchant bankers who were interested in running the OFS issues for HAL and BDL.

According to sources in the know told CNBC-TV18 that the government may start the minority stake sale with BDL. For the current fiscal, the government is likely to line up 7-8 OFSs.

Source close to the development said the government may look at raising Rs 30,000-40,000 crore odd via minority stake sales., which includes buybacks and IPOs.

You May Also Like

Coronavirus News: Country's highest single-day COVID tests of 1.94 lakh conducted in Bihar, says Nitish Kumar

Coronavirus News: Country's highest single-day COVID tests of 1.94 lakh conducted in Bihar, says Nitish Kumar

IL&FS case: Sebi raises penalty to Rs 1 crore each on ICRA, CARE

IL&FS case: Sebi raises penalty to Rs 1 crore each on ICRA, CARE

Stock Market Highlights: Market ends in red for 4th day, broader markets slip over 1%; all sectors end lower except IT index

Stock Market Highlights: Market ends in red for 4th day, broader markets slip over 1%; all sectors end lower except IT index

Trending on CNBC-TV18

Live TV

recommended for you