The successful completion of disinvestment in Steel Authority of India by the Government will keep other public sector companies such as ONGC, Coal India, NHPC and Hindustan Zinc (residual stake) in the limelight . The Centre plans to sell a 5 per cent stake in ONGC, 10 per cent in Coal India and 11.36 per cent in NHPC. With SAIL disinvestment evoking strong response from investors, the Centre will usher in disinvestment of other companies too. It plans to garner ₹58,000 crore via stake sale.
Nestle India stock turns ex-dividend on Monday
Shares of Nestle India will remain in focus, as the stock will turn ex-dividend on the bourses from Monday. Its board of directors has declared third interim dividend of ₹8 per equity share for this year. The company has fixed December 9 as the record date for the purpose of determining eligible shareholders. So, those buying Nestle shares from Monday will not be eligible to receive the payout. With this, the company has rewarded its shareholders with ₹50.5 a share this year.
Shantivijay Jewels delisting turns success
The delisting offer of Shantivijay Jewels Ltd ended on Friday. Against the target of 3.9 lakh shares, the company has mopped up 2.76 lakh shares. The offer will be considered successful, if the company manages to get at least 1.85 lakh shares. With the response is now higher, the company will successfully delist the stock from the bourses. The Promoters currently hold 87 per cent stake. The company will announce the exit price. The stock on Friday closed at ₹69.30, up 2.29 per cent.