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India aiming to sell stakes in state-run cos by Nov - govt official

Source : REUTERS
Last Updated: Fri, Oct 12, 2012 11:10 hrs

MUMBAI, Oct 12 (Reuters) - India aims to divest stakes in state-owned companies Oil India Ltd, Hindustan Copper Ltd and National Aluminium Co Ltd by November, the official in charge of the government's divestment programme said on Friday.

One of the divestments could take place by the last week of October, Mohd. Haleem Khan, secretary at the department of divestment, said.

New Delhi aims to raise 300 billion rupees ($5.5 billion) through share sales in state-run companies in the current fiscal year that ends next March, but has thus far drawn a blank as weak market conditions have deterred public issues or auctions. (Reporting by Shamik Paul; Editing by Anand Basu)




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