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BPCL to SCI, gathering of secretaries clears vital stake deal in five PSUs

The deal may bring over Rs 60,000 crore.

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BPCL to SCI, gathering of secretaries clears vital stake deal in five PSUs

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  1. BUSINESS STANDARD BPCL to SCI, gathering of secretaries clears vital stake deal in five PSUs The deal may bring over Rs 60,000 crore.

  2. ECONOMY&POLICY:The administration has set the ball moving on key deals, with a gathering of secretaries on Monday clearing disinvestment in five open segment endeavors (PSUs), which may get over Rs 60,000 crore and hold the financial shortfall under tight restraints. This would represent around 60 percent of Rs 1.05 trillion planned from disinvestment in the current budgetary year. Disinvestment in Bharat Petroleum Corporation (BPCL), Shipping Corporation of India (SCI), Concor, North Eastern Electric Power Corporation (NEEPCO), and THDC would help the Center hold its financial shortage under control in the wake of curbed charge incomes and a Rs 1.45- trillion hit for the exchequer from enterprise rate cuts. All the five organizations may not go to private hands in light of the fact that there are choices to offer them to other open part units. Be that as it may, if private firms get them, it would be the greatest such exercise since the times of the Atal Bihari Vajpayee government. A Cabinet note will be set up for these five organizations. The gathering will take up the disinvestment of five more PSUs soon, sources said. While the administration needs to sell its whole stake in four organizations, it means to offload 30 percent in Concor. It has 54.80 percent in the organization. The administration has 63.75 percent in SCI and its stake deal will yield Rs 1,282.7 crore. A 30 percent stake deal in Concor will bring the administration Rs 6,056 crore at Monday's market cost of Rs 604.60. All the three recorded organizations — BPCL, SCI, and Concor — were up by 0.09 percent, 2.13 percent, and 2.27 percent, separately, on the BSE on Monday. The legislature has gathered Rs 12,357.49 crore from disinvestment up until this point. View More : BPCL to SCI

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