government – India Chron https://indiachron.com Thu, 16 Sep 2021 06:03:47 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://indiachron.com/wp-content/uploads/2026/02/favicon-4-150x150.png government – India Chron https://indiachron.com 32 32 Government to sell 10% stake in Hindustan Copper Ltd through offer https://indiachron.com/business/government-to-sell-10-stake-in-hindustan-copper-ltd-through-offer/ Thu, 16 Sep 2021 06:03:47 +0000 https://indiachron.com/government-to-sell-10-stake-in-hindustan-copper-ltd-through-offer Government will sell upto 10% stake in Hindustan Copper Ltd through offer for sale option in the stock exchange that could fetch around Rs 1121 crore to the exchequer.

“Government brings out “Offer for sale” for 10% Equity stake sale in Hindustan Copper Ltd, including 5% Green-shoe option. The offer opens tomorrow for Non-Retail investors at a floor price of Rs.116 per share. Retail investors can bid on Friday”, Department of Investment and Public Asset Management secretary Tuhin Kanta Pandey tweeted on Wednesday.

The floor price for the OFS has been pegged at Rs.116 per share. On Wednesday share price of Hindustan Copper closed 1.27% down at Rs 124.5.

Hindustan Copper reported a net profit of Rs 110 crore in FT21 against a loss of Rs 598 crore in the preceding year. The central public-sector enterprises (CPSE) under the Ministry of Mines, reported a total income of Rs 1,822 crore in FY21, compared to Rs 888.81 crore in FY20.

The Centre has so far garnered Rs 8,369 crore, against the disinvestment target of Rs 1.75 trillion for FY22. It has sold its entire stake in Axis bank held through Specified Undertaking of the Unit of India (SUUTI) for Rs3,994 crore and got Rs 3,654 crore and Rs 720 crore through stake sales in NMDC Ltd and Hdco Ltd, respectively.

 

]]> Industry Minister: e-vehicles become mandatory for all government offices in Maharashtra https://indiachron.com/lifestyle/travel/industry-minister-e-vehicles-become-mandatory-for-all-government-offices-in-maharashtra/ Fri, 10 Sep 2021 05:36:12 +0000 https://indiachron.com/industry-minister-e-vehicles-become-mandatory-for-all-government-offices-in-maharashtra A day after State Industry Department announced concessions up to Rs 1.50 lakh on e-vehicles; Industry Minister Subash Deshmukh Thursday said e-vehicles will henceforth become mandatory for all government, civic, and Zilla Parishad offices.

“Last month, we came up with a new e-vehicle policy. Yesterday, we announced a rebate for e-vehicle buyers as part of our e-vehicle policy,” Desai told The Indian Express Thursday.

The Minister said in the next four years, 10 percent of all public transport buses will be e-vehicles. “Similarly, 25 percent state transport buses will be e-vehicles. As of now, the percentage of e vehicles is much lesser than imagined”.

But the big move, Deshmukh said, will be the mandatory use of e-vehicles in all government offices. “Be it state government department, civic bodies, Zilla Parishads or gram panchayat, henceforth all purchases will be of e-vehicles. We will do away with petrol and diesel vehicles. We have already issued directives to effect,” the Minister said while emphasizing on promoting the non-polluting mode of transport.

Stating that the government was attracting e-vehicle manufactures and the battery-makers by offering incentives, Desai said,” In the next four years, there will be 2,500 charging stations across the state which will further boost the e-vehicles industry.”

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