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Thursday, June 10, 2010

Govt defers decision on stake sale in state firms

The cabinet on Thursday deferred a decision to sell stake in state-run Coal India and miner Hindustan Copper Ltd(HCPR.BO) , Mines Minister B.K. Handique told reporters.

India is planning to sell stake in the two firms as part of a plan to offload holdings in 60 state firms in coming years.

The government is targeting to garner 400 billion rupees ($8.5 billion) via stake sales in state firms in the fiscal year that began on April 1.

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