India approved stake sales in four state-run companies on Friday, restarting a stalled divestment programme as part of a broader push to revive a reform agenda.
The cabinet approved stake sales in Hindustan Copper Ltd, National Aluminium Co Ltd, trading firm MMTC Ltd and explorer Oil India Ltd.
New Delhi aims to raise 300 billion rupees through share sales in state-run companies in the current fiscal year that ends in March 2013, but has been unable to raise any funds thus far because of weak market conditions.