Govt to sell stakes in 60 state-run firms

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Govt to sell stakes in 60 state-run firms
New Delhi, Jan 7: The Indian Government is considering to sell its stakes in around 60 state-run firms including Hindustan Copper Ltd, a official at the Finance Ministry said on Thursday, Jan 7.

Finance ministry official, Sunil Mitra said, "(Hindustan Copper) is one of the companies in which government is considering to sell its stake."

According to media reports, the company's board has already approved up to 20 per cent of its stake sale in the fiscal year that starts in April 2010.

A 20-per cent stake in the firm would be worth about $1.15 billion based on the stock's current price.

However, Mitra said, "No proposal has been received as yet for 20 per cent stake sale in Hindustan Copper (from Mines Ministry).

In Nov 2009, the cabinet approved a proposal to sell at least 10 per cent government holding in state-run firms.

OneIndia News

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