Cabinet approves stake sale in Rashtriya Chemicals
NEW DELHI (Reuters) - The cabinet approved selling a further stake in state-run Rashtriya Chemicals & Fertilizers Ltd(RSTC.NS), a minister said on Wednesday.
The move is part of the government's plan to raise 300 billion rupees by selling part of its holding in state-run companies in the current fiscal year that ends in March.
The minister, who declined to be named, did not specify the quantum of stake to be sold in the fertiliser maker.
The government, which owns 92.5 percent of Rashtriya Chemicals & Fertilizers, had earlier indicated it may sell 12.5 percent stake in the company.
(Reporting by Nigam Prusty; Editing by Prateek Chatterjee)
- Tweet this
- Share this
- Digg this
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
Trending On Reuters
The government made a push on Wednesday to bolster its strained finances, offering to sell a stake in miner Coal India and more mobile phone airwaves as it aimed to deliver on a promise to trim its fiscal deficit. Full Article