Govt planning disinvestment in NALCO, Hindustan Copper
Published By : Prameya News Bureau | December 08, 2021 IST
Share
New Delhi, Dec 8: The Central government is now reportedly looking to divest its stake in two companies—National Aluminium Company (Nalco) and Hindustan Copper Ltd (HCL). The disinvestment department will soon seek formal approval from the Union Cabinet, before moving ahead with the strategic sale of the two mining companies, The Economic Times newspaper said in a report. While the stake sales may take place next year, all clearances including cabinet approval will be completed within this fiscal year, an official said to the newspaper. The Niti Aayog has recommended privatisation of the two along with other non-strategic public sector entities. The Centre may retain some stake in these firms. The government holds 66.14% of Hindustan Copper and 51.28% of National Aluminium. Multiple investors including Vedanta Group are said to be interested in picking up stakes in Hindustan Copper.
News7 Is Now On WhatsApp Join And Get Latest News Updates Delivered To You Via WhatsApp
You Might Also Like
More From Related News
Sensex crosses 74K mark in 1000 points rally
Kia unveils K4 compact sedan in US ahead of launch
realme 12x 5G: Pioneering 5G experience under Rs 12K
Adani Ports acquires Gopalpur Port in Odisha for Rs 3,080 crore
MCL becomes first ever company to achieve 200 MT coal production
Over $447 million in funding raised by 22 Indian startups last week
Naveen Jindal takes charge as President of Indian Steel Association
Maruti Suzuki acquires stake in homegrown AI startup Amlgo Labs
Will work to create advanced chip design facility in TN: Zoho's Sridhar Vembu
RBI issues new rules for self-regulatory organisations of banks, NBFCs
Startup Mahakumbh: Rise of entrepreneurs from tier 2, 3 cities big boost to ecosystem
Agency Banks to remain open during Annual Closing on March 31, Sunday: RBI
India records 5.9 pc mineral production increase in January
India now home to over 150 two-wheeler EV startups
Tata Chemicals shares plunge more than 8 per cent
Witnessed 100 pc surge in online business for academic year 2024-25: Physics Wallah
Narayana Murthy gifts Infosys stock worth over Rs 240 crore to 4-month-old grandson
India can create more jobs in esports, game development: CII
Centre to soon have dedicated policy to nurture deeptech startup ecosystem
Adani Group to invest Rs 1.2 lakh crore in FY25 in next phase of growth