The disinvestment of 5% stake in ONGC is implausible as the liquidity situation in the souk is under stress[/b]
Shares of nationalized ONGC are up more than 1% to Rs 356 on the BSE on news that the disinvestment of 5 per cent stake in ONGC is implausible this financial as the liquidity situation in the marketplace is under stress after current mega share auctions while the funding issue remains unresolved.
The administration on January 30 sold ten per cent stake in Coal India through a proffer for auction and elevated Rs 22,558 crore, close to one-third of which came from FIIs. Whereas abroad shareholders put in about Rs 6,000 crore, retail shareholders pumped in close to Rs 2,000 crore in the issue.
This was pursued by HDFC Bank offering on February 5. The foremost private sector bank raised Rs 10,000 crore as of a mix of American depository receipts (ADRs) as well as qualified institutional placement (QIP).
The administration was believed to sell 5 per cent of its stake in ONGC, the country’s largest oil and gas refiner, to increase Rs 17,000-18,000 crore. Though, the double impact of tumbling worldwide oil costs and the increasing subsidy burden has left shares of ONGC battered.
The ONGC stock has also been impacted because of lingering subsidy burden. The corporation, according to the current method, has to shell out USD 56 per barrel to assist fund LPG and kerosene. Though, with global oil costs slumping to less than USD 50 per barrel, its current net realization is in the pessimistic.
In March 2012, the management increased Rs 12,767 crore through auctioning of shares in oil main ONGC as well as state-owned LIC had subscribed to a huge chunk of the issue.
So far this financial, the administration has raised approximately 24,400 crore through bet auction in CIL and SAIL. The disinvestment department is racing beside time to meet the budgeted target of Rs 43,425 crore in fewer than two months.
The stock opened at Rs 352 a touched a tall of Rs 356 on the BSE. A whole of 63,478 distributes have changed hands on the BSE up to now.
Shares of nationalized ONGC are up more than 1% to Rs 356 on the BSE on news that the disinvestment of 5 per cent stake in ONGC is implausible this financial as the liquidity situation in the marketplace is under stress after current mega share auctions while the funding issue remains unresolved.
The administration on January 30 sold ten per cent stake in Coal India through a proffer for auction and elevated Rs 22,558 crore, close to one-third of which came from FIIs. Whereas abroad shareholders put in about Rs 6,000 crore, retail shareholders pumped in close to Rs 2,000 crore in the issue.
This was pursued by HDFC Bank offering on February 5. The foremost private sector bank raised Rs 10,000 crore as of a mix of American depository receipts (ADRs) as well as qualified institutional placement (QIP).
The administration was believed to sell 5 per cent of its stake in ONGC, the country’s largest oil and gas refiner, to increase Rs 17,000-18,000 crore. Though, the double impact of tumbling worldwide oil costs and the increasing subsidy burden has left shares of ONGC battered.
The ONGC stock has also been impacted because of lingering subsidy burden. The corporation, according to the current method, has to shell out USD 56 per barrel to assist fund LPG and kerosene. Though, with global oil costs slumping to less than USD 50 per barrel, its current net realization is in the pessimistic.
In March 2012, the management increased Rs 12,767 crore through auctioning of shares in oil main ONGC as well as state-owned LIC had subscribed to a huge chunk of the issue.
So far this financial, the administration has raised approximately 24,400 crore through bet auction in CIL and SAIL. The disinvestment department is racing beside time to meet the budgeted target of Rs 43,425 crore in fewer than two months.
The stock opened at Rs 352 a touched a tall of Rs 356 on the BSE. A whole of 63,478 distributes have changed hands on the BSE up to now.