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Thursday, November 5, 2009

Listed CPSEs to offload 10%, says Chidambaram

The government today decided that all listed central public sector enterprises (CPSEs) will increase the public holding to 10 per cent and all unlisted profitable state-owned entities should go public.

"All profitable listed CPSEs should need the mandatory listing of 10 per cent public ownership," Home Minister P Chidambaram told reporters after the meeting of Cabinet Committee of Economic Affairs (CCEA) here.

The government has also decided that all unlisted CPSEs, which have made profit in the past 3 years and have a positive networth, should get listed on stock exchanges, he said, adding that CPSEs will enter the market at "appropriate" time.

The decision will have a bearing on mineral major NMDC and MMTC, as the public shareholding in these companies is 1.62 per cent and 0.67 per cent respectively.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Wednesday, Jul 09
20:00 EIA Crude Oil Stocks Change 1 7.070M -2.000M 3.845M
22:30 10-Year Note Auction 1 4.362% 4.421%
23:30 FOMC Minutes 3
Thursday, Jul 10
04:15 Visitor Arrivals (YoY) 1 6.1% 18.8%
04:31 RICS Housing Price Balance 1 -7% -8% -7% Revised from -8%
18:00 Initial Jobless Claims 4-week average 1 241.5K
18:00 Initial Jobless Claims 2 235K 233K
18:00 Continuing Jobless Claims 1 1.980M 1.964M
19:30 Fed's Musalem speech 2
20:00 EIA Natural Gas Storage Change 1 56B 55B
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