Left Menu
Development News Edition

NTPC to acquire stake in SJVN, HP govt expresses reservation in transaction

Devdiscourse News Desk | New Delhi | Updated: 07-12-2018 15:50 IST | Created: 07-12-2018 15:26 IST
NTPC to acquire stake in SJVN, HP govt expresses reservation in transaction
"We are looking at NTPC acquiring Centre's share in SJVN. The matter is stuck because of resistance from Himachal Pradesh government. We are discussing it," the official said. (Image Credit: Twitter)

State-run NTPC is likely to acquire the Central government's stake in SJVN Ltd, but the Himachal Pradesh government has expressed some reservations relating to this transaction, an official said.

At the current market price, the sale of 63.79 per cent stake in SJVN would fetch the Centre about Rs 6,700 crore.

SJVN is a joint venture between the Centre and the Himachal Pradesh government, with a joint holding of 90.63 per cent.

At the end of September, Centre held 63.79 per cent stake in SJVN, while HP Government held 26.85 per cent.

An official said the discussions are going on for the purchase of Centre's stake in SJVN, but Himachal Pradesh government has some concerns.

"We are looking at NTPC acquiring Centre's share in SJVN. The matter is stuck because of resistance from Himachal Pradesh government. We are discussing it," the official said.

If the acquisition goes through, this would be the third such transaction amongst Central Public Sector Undertaking (CPSEs).

In January, ONGC bought government's entire 51.11 per cent stake in oil refiner HPCL for Rs 36,915 crore. On Thursday, the Cabinet cleared PFC buying 52.63 per cent stake in REC, for an estimated Rs 15,000 crore.

Shares of SJVN were trading at Rs 26.40, down 1.12 per cent, while NTPC scrip was quoting 0.86 per cent lower at Rs 137.95 over the previous close on the BSE.

The government has already mopped up over Rs 32,000 crore from CPSE disinvestment so far in the current fiscal. The budget target has been set at Rs 80,000 crore.


TRENDING

OPINION / BLOG / INTERVIEW

How UK’s 'best prepared' healthcare system failed to gauge COVID-19

The UK is proud of their public health system and its unlike any other country as around 90 percent of British public supports the founding principles of National Health Service. But without accurate data being available to stakeholders in ...

Poor on IHR capacity progress in 2019, WHO says Cambodia tops COVID-19 response

Despite being in proximity to Hubei, the original epicenter of COVID-19 pandemic, Cambodia has reported just 226 confirmed cases and zero deaths. After seeing the data, WHO appreciated Cambodias healthcare information system but experts dou...

Loopholes in Healthcare Information System may have failed Singapore COVID-19 model

In the initial days of the COVID-19 outbreak, Singapore was in the limelight for its effective healthcare system and pandemic response plan. However, Singapore has now joined the list of the worst-hit nations and the situation is even worse...

Australia's COVID-19 response: Digital infrastructure of help but implementation remains a challenge

Australias ongoing plans to upgrade its health information system helped by the Digital Health Strategy seem even more practical due to the pandemic. But as evident during the pandemic, administrative lapses and the complex matrix of power ...

Videos

Latest News

Braves RHP Soroka out for season with torn Achilles

The Atlanta Braves lost pitching ace Mike Soroka for the season with a torn right Achilles tendon on Monday. Soroka was injured in the third inning of the 7-2 loss to the visiting New York Mets. The 22-year-old right-hander tumbled to the g...

BMC curtails bus services in Mumbai, asks offices to remain shut due to heavy rainfall

Bus and train services have been halted and altered in Mumbai owing to incessant rain on Tuesday, the Brihanmumbai Municipal Corporation BMC informed, while also appealing to offices in the city to remain shut. The Western and harbour line ...

Rugby league-Toronto's Super League participation terminated

The Toronto Wolfpack, who signed New Zealands Sonny Bill Williams before the start of the campaign, have had their Super League Europe participation agreement terminated after withdrawing from the competition last month. The Toronto team ha...

Milton's late trey carries 76ers past Spurs

Shake Milton hit a 3-pointer with 7.2 seconds remaining to lift the Philadelphia 76ers past the San Antonio Spurs 132-130 on Monday at the Visa Athletic Center near Orlando. Joel Embiid led the Sixers with 27 points and nine rebounds. Tobia...

Give Feedback