Indian govt stake sale plan on track despite volatile markets
Sunday, 30 May 2010
NEW DELHI, May 29 (Reuters): Volatile stock markets have not changed India's plans to sell stakes in state-run companies, a senior finance ministry official said Friday.
The government has pencilled in proceeds of roughly $8.6 billion from sales in government companies in the fiscal year that began on April 1.
Indian shares skidded to their lowest close in three-and-a-half months early this week, before paring losses, as Europe's sovereign debt woes sparked worries of larger foreign fund outflows and casting doubt over the government's ability to complete its stake sale plans.
The government has pencilled in proceeds of roughly $8.6 billion from sales in government companies in the fiscal year that began on April 1.
Indian shares skidded to their lowest close in three-and-a-half months early this week, before paring losses, as Europe's sovereign debt woes sparked worries of larger foreign fund outflows and casting doubt over the government's ability to complete its stake sale plans.