Select PSUs rally on 'in-principle' nod for strategic disinvestment

Bharat Petroleum Corporation (BPCL) hit a new high of Rs 548, up 6 per cent.

Shares of select public sector undertaking (PSU) rallied up to 20 per cent on the BSE after the Government gave ‘in-principle’ approval for strategic disinvestment of 28 Central Public Sector Enterprises (CPSEs) with sale of majority stake of Government of India and transfer of management control.

Hindustan Petroleum Corporation (HPCL) and Dredging Corporation of India are among 28 CPSEs, which have been approved 'in principle' for strategic disinvestment by the Cabinet Committee on Economic Affairs (CCEA), Minister of State for Finance and Corporate Affairs Anurag Thakur informed the Lok Sabha on Monday.

Dredging Corporation of India was locked