Shares of Shipping Corporation of India and IDBI Bank surged nearly 9% on June 3. This spike came after reports suggested that the BJP-led NDA government plans to sell its stakes in these companies within the first 100 days of their new term.
Key Points:
- Government Plans: According to CNBC Awaaz, the new government, expected to be formed by the NDA, will prioritize divesting its stakes in Shipping Corporation of India and IDBI Bank.
- Current Stakes: The government holds a 63.75% stake in Shipping Corporation and a 49.24% stake in IDBI Bank, while LIC owns 45.48% of IDBI Bank.
Market Response:
- Stock Prices: At 1:33 PM, Shipping Corporation shares were trading at Rs 261.40, and IDBI Bank shares were at Rs 93.05 on the NSE.
- Previous Moves: Shipping Corporation’s land assets were previously separated and listed independently.
Future Steps:
- IDBI Bank: The Reserve Bank of India is currently reviewing potential buyers for IDBI Bank. After this review, the Department of Investment and Public Asset Management (DIPAM) will give final approval.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
ADVERTISEMENT
ADVERTISEMENT
