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Popular Articles

Markets extend losses
The markets have extended losses in the last few minutes. The Sensex is now down 54 points at 17,561. The Nifty is down 15 points at 5,248.

Packaged software tax riddle: Microsoft wants excise duty on it
Software giant Microsoft"s representatives will soon meet Finance Ministry officials trying to persuade them to impose excise or countervailing duty instead of service tax on packaged software.

News of the day

Nordic region offers $10bn opportunity for IT: Nasscom-PwC
The Nordic region (Norway, Denmark, Iceland, Finland and Sweden), which is now opening up to offshoring as a viable option to sustain its long-established competitiveness, offers an untapped $10 billion outsourced services opportunity for Indian IT companies, said a Nasscom-PricewaterhouseCoopers report.
Public Company

Govt won't sell more stake in Nalco

The Government today said it has no plans to sell more stake in aluminum producer National Aluminum Company (Nalco). - Aluminium at 14-mth high - Nalco to set up aluminium park in Orissa - NDTV to sell 76% in Imagine to Turner - Nalco to invest Rs 22k cr for setting up plants in AP, Orissa - ACES service rolled out at Bhubaneswar-I commissionerate - Nalco, NPCIL ink pact for nuke power generation "...The Ministry has no proposal for disinvestment of the public sector undertaking Nalco," Minister of State for Finance S S Palanimanickam said in a written reply to the Rajya Sabha. The government had already divested about 13 per cent of its stake in Nalco and currently holds 87.15 per cent stake in the company. Shares of Nalco today closed at 378.55, down 0.38 per cent on the Bombay Stock Exchange. The Cabinet in November had decided to increase public holding in all listed central public sector enterprises to 10 per cent and to list all unlisted profitable state-owned entities. In the current fiscal, the government has already reduced its stake in NHPC and Oil India. The disinvestment department of the Finance Ministry had said it is in talks with 60 CPSUs, including SAIL, BSNL, Coal India, for selling of government stake. Last week, the Finance Ministry had asked 32 nodal ministries to identify state-run firms where the government stake could be sold and and has sought their response by the end of this month.


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