NEW DELHI The cabinet agreed to sell a 10 percent stake in state-owned aircraft maker Hindustan Aeronautics Ltd (HAL), a senior minister said on Thursday.
Science and Technology Minister, Jaipal Reddy, did not clarify on the timeline of the divestment or on the price the government expects to receive on the stake sale.
India plans to sell stakes in 15 state-run firms by the end of March next year and looks to raise 300 billion rupees from the sales to help plug a yawning gap in the fiscal budget.
(Reporting by Nigam Prusty; Editing by Anand Basu)
Trending On Reuters
With the Nifty breaching 8,500, sentiments are again bullish. But markets have been in the 8,200-8,600 range for some time and stocks across the board do not give the required confidence except for the liquidity factor. Many frontline stocks are not participating on the upside and the core sector is in a downtrend, writes Ambareesh Baliga. Column