Govt mulls offloading 10% stake in Bhel

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APPROACHED SHELL FOR BUYOUTS BEFORE ESSAR'S EXCLUSIVE TALKS BEGUN
ESSAR-SHELL IN EXCLUSIVE NEGOTIATIONS TILL NOV 30 TO BUY 3 SHELL REFINERIES
RIL SPOKESPERSON: 'WE ARE REVIEWING A NUMBER OF GLOBAL OPPORTUNITIES'
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JSW ENERGY ALSO IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
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NET PROFIT AT RS.48.2 CR VS RS.12 CR; SALES UP 55% AT RS.849 CR (YOY)
PROFIT UP 55% AT RS.143.50 CR; NET SALES UP 22.5% AT RS.2234.20 (YOY)
IMPORTING SUGAR BEING REVIEWED; NEED FOR ECONOMIC PRICING OF SUGAR
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KEEPS OVERNIGHT LENDING RATE UNCHANGED AT 0.1%
STILL SEE DOWNSIDE RISK FOR THE ECONOMY
AIM TO CONVERT NON USERS TO USERS WITH THE HELP OF ROAMING TARIFF CUTS
PREFER TO REMAIN AGGRESSIVE WITHOUT GETTING INTO A PRICE WAR
EYEING TO SETTLE PAYMENT DEFAULT CASE OUT OF COURT: SOURCES

Updated: 19/06/2009 | 12:00 AM IST

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Capital Market

Friday, June 19, 2009 (New Delhi)

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Minister of heavy industries Vilasrao Deshmukh said today, 19 June 2009, the government will positively consider selling 10% stake in state-run engineering firm Bharat Heavy Electrical (Bhel) and a final decision is yet to be taken. The government currently owns 67.7% stake in Bhel and the stake sell can fetch Rs 10,000 crore.

The ministry said 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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