Cabinet approves stake sale in Rashtriya Chemicals

NEW DELHI Wed Dec 26, 2012 1:40pm IST

Related Topics

Stocks

   
Border Security Force (BSF) soldiers ride their camels as they rehearse for the "Beating the Retreat" ceremony in New Delhi January 27, 2015. REUTERS/Ahmad Masood

"Beating The Retreat" Rehearsals

Rehearsals are on for "Beating the Retreat" ceremony which symbolises retreat after a day on the battlefield, and marks the official end of the Republic Day celebrations.  Slideshow 

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)

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

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.

Reuters Showcase

Vodafone Ruling

Vodafone Ruling

Government will not appeal Vodafone tax ruling   Full Article 

Indian Railways

Indian Railways

Private refiners compete with state firm to sell diesel to railways   Full Article 

Ranbaxy Results

Ranbaxy Results

Dec-quarter net loss widens on forex loss  Full Article 

Market Eye

Market Eye

Sensex, Nifty retreat from record highs on profit-taking.  Full Article 

Tech Talk

Tech Talk

Apple takes high road in China smartphone standoff with Xiaomi.  Full Article 

Business Strategy

Business Strategy

Uber scraps commissions for its New Delhi taxis.  Full Article 

Job Cuts

Job Cuts

Sony to cut 1,000 jobs in smartphone business - sources.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage