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Government to sell 10 percent stake in BHEL
By SiliconIndia | Friday, 19 June 2009, 04:50 Hrs |
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Bangalore: The Indian government is considering selling a 10 percent stake in one of the nation's biggest electrical equipment maker Bharat Heavy Electricals (BHEL), reports Economic Times.
"The government is giving serious thoughts, but a decision is yet to be taken," said minister of heavy industries, Vilasrao Deshmukh.
The government owns 67.7 percent in BHEL and the sale can raise
10,000 crore based on yesterday's closing share price. Its shares have also gone up 51 percent this year. The weight of BHEL in BSE PSU index is 12 percent while in Sensex it is 3.4 percent. Its market cap is at 1 lakh crore.
The ministry has also said that BHEL would sign agreements with two state utilities for power joint ventures and extend its agreement with Siemens AG for steam turbines and generators.
"The government is giving serious thoughts, but a decision is yet to be taken," said minister of heavy industries, Vilasrao Deshmukh.
The government owns 67.7 percent in BHEL and the sale can raise
10,000 crore based on yesterday's closing share price. Its shares have also gone up 51 percent this year. The weight of BHEL in BSE PSU index is 12 percent while in Sensex it is 3.4 percent. Its market cap is at 1 lakh crore. The ministry has also said that BHEL would sign agreements with two state utilities for power joint ventures and extend its agreement with Siemens AG for steam turbines and generators.
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