Government to consider stake sale in NTPC - Economic Times

NEW DELHI: The cabinet committee on economic affairs will on Thursday consider a proposal to sell 9.5% stake in central sector power utility NTPC. It will also consider a proposal to allow state miner NMDC to acquire 50% stake in Legacy Iron Ore, a listed Australian entity. The government is lining up a number of state run companies for a big year end disinvestment rush to raise the Rs 30,000 crore budgeted for the year. The go vernment currently has 84.5% stakes in the country's biggest thermal power producer. The near 10% stake sale will fetch the government over Rs 13,000 crore at the current prices. The government has not yet managed a single disinvestment issue in the current financial year. Legacy Iron Ore is a Perth-based company that has interest in iron ore, coal and gold deposits. The cabinet will also take up government's response to the climate change negotiations at Doha. Download ET's mobile applications for iPad, iPhone, Android, BlackBerry, Nokia and Windows Phone to track news as it happens, live stock quotes, m onitor portfolio, get market stats like gainers, losers and movers & much more. To check out free Economic Times apps , Click here The government is lining up a number of state run companies for a big year end disinvestment rush to raise the Rs 30,000 crore budgeted for the year. via Business - Google News

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