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Union Budget 2019: Disinvestment is government’s preferred way to liquidate loss-making, inefficient PSUs
Business

Union Budget 2019: Disinvestment is government’s preferred way to liquidate loss-making, inefficient PSUs

The concept of disinvestment follows the dictum: The government has no business to be in business

Bailout package for debt-ridden BSNL: Keeping Air India and public sector telecom firm afloat at all costs is a monumental blunder
Business

Bailout package for debt-ridden BSNL: Keeping Air India and public sector telecom firm afloat at all costs is a monumental blunder

DoT is considering a Rs 13,000-crore bailout plan for state-owned Bharat Sanchar Nigam Ltd (BSNL)

'No immediate plans to retire, Vedanta needs my agression, risk-taking ability', says Anil Agarwal
Business

'No immediate plans to retire, Vedanta needs my agression, risk-taking ability', says Anil Agarwal

Agarwal has delisted his flagship Vedanta Resources from the London Stock Exchange (LSE) and is now concentrating on growing mineral mining and oil and gas businesses out of the India-listed firm, Vedanta Ltd.

Why the Air India Nariman Point property sale should be the template for future PSU disinvestment
Business

Why the Air India Nariman Point property sale should be the template for future PSU disinvestment

Air India’s whopping outstanding to banks and accumulated losses was a put-off for potential suitors for a going concern sale

States to get richer by Rs 80,000 cr after sale of 11 coal blocks
Business

States to get richer by Rs 80,000 cr after sale of 11 coal blocks

States, including Chhattisgarh, Jharkhand and West Bengal, are set to get nearly Rs 60,000 crore from 11 coal blocks sold in the ongoing auction, a top official said.

Coal Block Auction: Hindalco wins Gare Palma IV/5 mine in Chhattisgarh
Business

Coal Block Auction: Hindalco wins Gare Palma IV/5 mine in Chhattisgarh

Hindalco Industries has won the Gare Palma IV/5 mine in Chhattisgarh by outbidding companies like BALCO, Sesa Sterlite, Ambuja Cements

Coal block auction to benefit the poor states: Coal Secretary
Business

Coal block auction to benefit the poor states: Coal Secretary

With aggressive bidding for coal blocks likely to continue on the fourth day, the government today said that poor states would benefit from the auction.

Coal Block Auction: Vedanta bid for 14 blocks; Birla, Adani, Jindal also in fray
Business

Coal Block Auction: Vedanta bid for 14 blocks; Birla, Adani, Jindal also in fray

Mining baron Anil Agarwal-led Vedanta Group has bid for the most number of 14 coal mines out of 23 on offer in the first round of auction which also have aggressive bids by Aditya Birla Group, Adani and Naveen Jindal group, but was shunned by foreign players.

Centre may not opt for stake sale in Hindustan Zinc, Balco this fiscal
Economy

Centre may not opt for stake sale in Hindustan Zinc, Balco this fiscal

The government currently holds 29.5 percent stake in HZL and 49 percent in Balco.

Disinvestment without scrapping these laws could trip up Modi's grand economic plans
Economy

Disinvestment without scrapping these laws could trip up Modi's grand economic plans

The nationalisation acts provided only for the transfer of all assets, rights and interests of a company to the central government. They do not get into the nitty-gritty of how these companies are to be run

Disinvestment process progressing as per schedule: FM Jaitley
Economy

Disinvestment process progressing as per schedule: FM Jaitley

In the Budget, the government estimated to collect Rs. 43,425 crore from selling stake in PSUs and another Rs. 15,000 crore from sale of residual stake in erstwhile government companies.<br />

Centre may divest in SAIL, RINL, HAL this year: Jaitley
India

Centre may divest in SAIL, RINL, HAL this year: Jaitley

The government has budgeted to raise Rs 43,425 crore through disinvestment in the current fiscal, higher than Rs 40,000 crore raised in 2013-14.

4 PSU stake sales and a public listing: Jaitley unveils govt's divestment plan
Economy

4 PSU stake sales and a public listing: Jaitley unveils govt's divestment plan

The government will be selling its stake in four PSUs and will be listing one in an attempt to shore up its finances.

Cash-rich Coal India's interim dividend to make FIIs richer by over Rs 1000 cr
Business

Cash-rich Coal India's interim dividend to make FIIs richer by over Rs 1000 cr

The government, which holds 90 percent stake in Coal India Ltd (CIL), will get Rs 16,485.71 crore and use the amount in meeting the fiscal deficit target.<br /><br />

Will cash-strapped govt accept Vedanta's sweetened offer for HZL, Balco?
Business

Will cash-strapped govt accept Vedanta's sweetened offer for HZL, Balco?

Anil Agarwal's Vedanta Resources has sought shareholder nod to extend the offer to acquire residual government stakes in Hindustan Zinc Limited and Balco.<br /><br />

Chidambaram may squeeze PSUs for cash as asset sales falter
Business

Chidambaram may squeeze PSUs for cash as asset sales falter

A shortfall in sale proceeds this year will compound the formidable challenges Chidambaram faces. The economy is growing slower than the official forecast, hurting tax revenues. He is widely expected to meet his deficit target, but he may yet have to find other revenue sources or cut deeper into spending.<br /><br />

Vedanta awaits govt's response on HZL, Balco stake sale
Business

Vedanta awaits govt's response on HZL, Balco stake sale

Vedanta Resources has not revised its Rs 17,275-crore offer made in January to buyout government's remaining stakes in Hindustan Zinc and Bharat Aluminium Company.

IMG to vet Vedanta's offer for stake in HZL, Balco
Business

IMG to vet Vedanta's offer for stake in HZL, Balco

In January, the group had offered Rs 15,493 crore for buying 29.5 percent in HZL, and Rs 1,782 crore for 49 percent residual holding in Balco.

Vedanta proposes fresh valutation for Hindustan Zinc, Balco stake
Business

Vedanta proposes fresh valutation for Hindustan Zinc, Balco stake

Vedanta has approached the government suggesting a fair market valuation for Hindustan Zinc Limited and Bharat Aluminium Limited, reports CNBC-TV18.