PSU Divestment

Here is the best of Business Standard's opinion pieces for today

At present, the government and state-owned Life Insurance Corporation hold a little over 94 per cent in IDBI Bank and are classified as co-promoters.

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Sources said the company would start a pilot of producing green hydrogen at its Vindhaychal thermal power unit in Madhya Pradesh

Forces govt rethink on NINL valuation, delaying sale

In April, the government said that the timeline for disinvestment of Air India and Bharat Petroleum Corporation (BPCL) may be pushed by two to three months due to the second Covid-19 wave

As per government disinvestment plans two public sector banks (PSBs) and one general insurance company is to be privatised in fiscal 2021-22 (FY22) and aims to raise Rs 1.75 trillion.

Metals and mining magnate Anil Agarwal on Friday announced teaming up with London-based firm Centricus to create a USD 10-billion fund that will invest in stake sale of public sector undertakings. Centricus is a global investment firm. Agarwal, who is the executive chairman of Vedanta Resources said in a tweet, "Teamed up with London-based firm Centricus to create a USD 10-billion fund that will invest in stake sale of public sector companies. We are excited with the Union Budget's strong focus on disinvestment and would like to participate in the exercise." He further tweeted that "@Hindustan_Zinc & @Balco_India exemplify our track record of turning around companies post disinvestment without retrenching a single employee." Vedanta Resources Ltd is a globally diversified natural resources company.

A decisive close above 2,000 mark on Nifty PSU index may open doors for 2,200 levels going ahead

PSU stocks like IRCTC, BPCL, RCF, and RITES have not seen aggressive selling pressure. A small recovery may see a strong bullishness going forward

On offer are 206.5 million shares, or 5% of company's stock, at a floor price of Rs 64 a share, with option to sell another 5% if issue is oversubscribed

Large land holdings with public sector companies can scare off potential investors, who have to deal not only with issues about pricing of the land, but also about ownership rights

Wants RBI to relax the rules on ownership in private sector banks

Standalone net profit in April-June stood at Rs 2,076.17 crore compared with Rs 1,075.12 crore a year back, the company said in a regulatory filing

Here are the top business headlines on Tuesday morning

Sitharaman also raised the allocation for the employment guarantee scheme by Rs 40,000 crore over and above the Rs 61,000 crore budgeted for MGNREGS

The government has wasted the chance to firmly establish its reform credentials

Hope rises for monetisation of Rs 1 trillion worth of assets by March 31

Among other sectors staring at a negative impact from higher crude oil prices are tyres and cement

Last week, international credit rating agency Moody's warned of downgrading Bharat Petroleum Corporation (BPCL) to Ba1, if the government goes ahead with privatisation.