Select CPSEs fall; NTPC, PFC, NLC India down over 2%
.jpg)
Shares of select central public sector enterprises (CPSEs) such as NLC India, NTPC, NHPC, Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) were down up to 4% on BSE in intra-day trade after the government invited law firms to act as legal advisers for divesting its shareholding in seven CPSEs.
Besides these five, the government intends to sell equity shares in seven firms including Steel Authority of India (SAIL) and Indian Oil Corporation (IOC), via an offer for sale (OFS).
The legal advisers will be involved in the drafting of notices and responses to the stock exchanges and the market regulator Securities Exchange Board of India (SEBI), said the notice. The firms will assist the government with the modalities and method of the allotment of shares in the offer for sale of these companies.
At 12:15 pm; the S&P BSE CPSE index was down 0.60% as compared to 0.15% decline in the S&P BSE Sensex.
Other Latest News
.webp)
Tesla CEO Elon Musk deferring his India visit this week has had no effect on buzz that his company will eventually have a base for electric vehicles (EV) in the country.
Analysts say Musk deferred his visit to meet Prime Minister Narendra Modi due to Lok Sabha elections when the government attention is focused on campaigning and it cannot announce major policy.
.webp)
Bajaj Finserv Ltd (BFL) on Friday reported a 20 per cent increase in consolidated net profit to Rs 2,119 crore for the March quarter.
The company had posted a net profit of Rs 1,769 crore in the year-ago period.
.webp)
Prime Minister Narendra Modi on Thursday claimed that former premier Rajiv Gandhi abolished the inheritance tax in 1985 after the death of his mother Indira Gandhi to save her wealth from going to the government, continuing his attack on the Congress on the wealth redistribution issue.
Addressing an election rally in Madhya Pradesh's Morena city, Modi alleged that Congress wanted to bring back the inheritance tax or estate duty, a levy imposed on inherited movable and immovable assets.
.webp)
Shares of Housing & Urban Development Corporation (HUDCO) hit a record high of Rs 234.30, zooming 15 per cent on the National Stock Exchange (NSE) in Friday's intra-day trade amid heavy volumes on expectations of good growth going forward. Last week, the Department of Public Enterprises (OPE) granted the Navratna Status to HUDCO.
The stock of the state-owned financial institution surpassed its previous high of Rs 226.95 touched on February 2, 2024. It has bounced back 43 per cent from the low of Rs 163.80 hit on March 13.
.webp)
Shares of GMR Airports Infrastructure shot up 8.2 per cent at Rs 92.34 a piece on Friday’s intraday trade. A combined 3.07 million shares of the company changed hands on the BSE. In comparison the S&B BSE Sensex fell by 0.31 per cent 74,109 levels.
The stock of GMR Airports reached a 52-week high of Rs 94.30 on February 20, 2024, while it hit a 52-week low at Rs 40 on May 29, 2023.
.webp)
.webp)
.webp)
.webp)
.webp)
