Budget 2018: Modi govt targets disinvestment receipts of Rs 900 billion
The ONGC-HPCL deal is
likely to fetch the government Rs 300 billion, the report said quoting sources
BUDGET
NEWS :Eyeing Rs 1 trillion price range goal via
disinvestment for next economic, the Modi authorities can also stop FY18 with
Rs 900 billion selloff, nearly twice the report figure of Rs 460 billion done
final yr, on the back of its stake sale in Hindustan
Petroleum agency (HPCL) to oil and herbal gas corporation (ONGC), in
step with The Time of India file.
The deal is possibly to fetch the
authorities Rs 300 billion, the document stated quoting resources.
The sale of the government's stake
in HPCL to ONGC is caught on valuation. consistent with humans near the
development, the attempt became to shut the deal before the quit of this month
however the government was searching at getting a better price for its 51.1 in
keeping with cent stake in HPCL.
primarily based at the present day
marketplace capitalisation, a 51 in keeping with cent in HPCL is worth Rs 323
billion, approximately Rs 23 billion better than in final July whilst the Union
cabinet had cleared the promote-off. but, reports advise that after evaluating
the advertising community, physical property and emblem value of HPCL, the
valuation might be round Rs 450 billion.
The cabinet Committee on economic
Affairs had given in-principle acclaim for the strategic sale on July 19 last
year.
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