Shipping Corp shares up 15% as govt gets multiple EoIs
Published By : Prameya News Bureau | March 02, 2021 IST
Share
Mumbai, March 2 (IANS) Shares of Shipping Corporation of India Ltd surged over 15 per cent on Tuesday as its disinvestment process gathered momentum with the government receiving multiple Expressions of Interest (EoI) for the privatisation of the company. Around 12 p.m., its shares on the BSE were trading at Rs 120.15, higher by Rs 16.45 or 15.86 per cent from its previous close. Taking to Twitter, Tuhin Kanta Pandey, the Secretary for Department of Investment and Public Asset Management (DIPAM) on Monday said: "Multiple Expressions of Interest have been received for privatisation of Shipping Corporation of India Limited. The transaction will now move to the second stage." The Union government proposes to sell its entire shareholding of 63.75 per cent in the listed entity to a buyer that will take over the company with full management control. The government expects to complete the privatisation in the coming financial year. Presenting the Union Budget for FY22, Finance Minister Nirmala Sitharaman had said that all the announced disinvestment processes will be completed during the upcoming fiscal.
News7 Is Now On WhatsApp Join And Get Latest News Updates Delivered To You Via WhatsApp
You Might Also Like
More From Related News
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
1,000 startups, 5,000 budding entrepreneurs at 3-day 'Startup Mahakumbh'
Single Window Committee approves Rs556.49 crore investment for 82.42 MW renewable power projects
Google adds input numbers to slider controls on Docs, Slides
India awaits Musk’s response as Centre clears road for Tesla's entry
30 Indian startups secure $287 million funding this week
Govt clears new E-vehicle policy to woo world’s top manufacturers
Indian Railways rakes in record revenue of Rs 2.4 lakh crore in 2023-24
FMCG growth to remain in slow lane this year
Govt inks pact for $23 mn ADB loan to strengthen fintech ecosystem in India
Dell launches new Alienware gaming laptop in India
DuoTouch Glass in NARZO 70 Pro 5G is perfect blend of style & performance
Ministry of Heavy Industries announces Electric Mobility Promotion Scheme
Switch to other banks before March 15, NHAI advises Paytm FASTag users
‘PM Gati Shakti- National Master Plan in Coal Sector’ released
Asus launches new laptops with thin, light profiles in India
Nothing Phone (2a) 60K units sold within 60 min of its launch