Govt aims to sell stake in Oil India, other PSUs by Nov

Government aims to divest stakes in state-owned companies Oil India Ltd, Hindustan Copper and National Aluminium Co by November, the official in charge of the government’s divestment programme said on Friday.

One of the divestments could take place by the last week of October, Mohammed Haleem Khan, secretary at the department of divestment, said.

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New Delhi aims to raise Rs 30,000 crore through share sales in state-run companies in the current fiscal year that ends next March, but has thus far drawn a blank as weak market conditions have deterred public issues or auctions.

Reuters