Nirmala Sitharaman announced that Cabinet had approved strategic disinvestment in five PSUs— Bharat Petroleum Corporation Limited, Shipping Corp of India, Container Corporation of India (Concor), THDCIL and NEEPCO— while retaining management control.
Rising for the fourth consecutive session, Vodafone Idea shares advanced 17.44 per cent to close at Rs 7.07 on the BSE. During the day, it jumped 31.72 per cent to Rs 7.93. In four sessions, the stock price has more than doubled.
The government proposes to provide the manufacturers land to set up a factory along with power, water and road access, according to draft of the document prepared by the Department for Promotion of Industry and Internal Trade and Invest India.
"These guys (foreign airlines) are coming and trying to set up an airline in our country. Why shouldn't we try it the other way around? We should give it a shot," Chairman and Managing Director Ajay Singh told reporters.
Reliance’s shares have increased at three times the pace of India’s benchmark index this year after its billionaire owner in August announced plans to cut the company’s net debt to zero in 18 months through measures including a stake sale in the oil-to-chemicals business to Saudi Aramco.