Govt's divestment agenda: Potential PSU candidates rally

[rajan_pandey]

tocks of listed public sector undertakings (PSUs) that could be potential candidates for divestment rallied today on the stock exchange after the government on Thursday tweaked norms to raise money on the stock exchange.


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The Cabinet yesterday ruled that all listed central PSUs should increase public holding to 10% and all unlisted profitable state-owned entities should go public.

Stocks of several listed PSUs like MMTC, Hindustan Copper, NMDC, Nevyeli Lignite National Fertilisers and STC India rallied anywehere between 4% and 16%, on opening trade at the National Stock Exchange (NSE).

A quick CNBC-TV18 analysis reveals the government may yield a bonanza of about Rs 20,000 crore via its new divestment plan.

Here’s the list of PSU stocks that rallied today, at 10.10 am

PSU Companies


Price


Prev Close


% Chg

MMTC


33601


30122


11.55

Hindustan Copper


256


233


10

NMDC


338


307


10

HMT


63.5


57.75


10

Andrew Yule


54.6


49.65


9.97

FACT


22.45


21.4


4.91

National Fertilisers


60.3


55.15


9.34

Scooters India


20.35


18.5


10

Neyveli Lignite


135.5


131


3.44

ITI


41.75


38.7


7.88

RCF


71.55


65.9


8.57

STC India


357


308.25


15.82