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Govt mulls 10% stake sale in Bhel

This article was posted on Jun 19, 2009 and is filed under Stock News

NEW DELHI: The government will ‘positively’ consider selling 10% stake in state-run engineering firm Bharat Heavy Electrical Ltd, minister of heavy industries Vilasrao Deshmukh said on Friday.

The government currently owns 67.7% stake in Bhel and the stake sell can fetch Rs 10,000 crore.

Bhel’s weight in BSE PSU index is 12%, while in Sensex the weight is 3.4%. Its market cap is at Rs 1 lakh 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.

source: Economictimes

Tags: Bharat Heavy Electrical Ltd sell, BHEL, bhel nse stock, buy or sell bhel, govt sell bhel

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