CONCOR.NSE News
India’s privatisation drive derails because of weak investor interest in state-run firms: report
India is considering shelving three planned privatisation sales amid weak investor appetite, two government sources said, a slump that has already derailed its attempt to sell a stake in IDBI Bank and is a fresh blow to the government’s flagship divestment programme. The privatisation plan, delayed for years, is now facing fresh setbacks that include dwindling interest in state-run firms such as Shipping Corporation of India and HLL Lifecare, besides the collapse of the IDBI Bank stake sale last week after bids fell short of the government’s minimum price. India’s finance, shipping and health ministries and the companies did not respond to Reuters ’ queries. Indian Prime Minister Narendra Modi’s ambitious privatisation plan was aimed at having the state exit most sectors while remaining only in sensitive ones such as telecom and banking. But the government could only sell Air India to Tata Sons, and indirect holdings in steel-maker Neelachal Ispat Nigam Ltd to Tata Steel, and Ferro Scrap Nigam to Konoike Transport Co.
cityfalcon.com
Kerala inks MoUs with central PSUs for Rs 2,000 cr Vizhinjam International Seaport project
Kerala is set to transform its maritime sector with a Rs 2,000 crore logistics master plan at Vizhinjam International Seaport. The state government has signed agreements with Indian Oil Corporation, Container Corporation of India, and Central Warehousing Corporation. This initiative will establish bunkering facilities, rail-linked infrastructure, and a multimodal logistics park.
cityfalcon.com
Indian Railways’ New Freight Reforms Boost Bulk Cement Movement In Tank Containers
Indian Railways’ revised GTKM-based freight charges and incentives have encouraged cement companies to shift bulk cement movement to rail, with Container Corporation of India facilitating silo infrastructure and tank container operations to cut costs and emissions.
cityfalcon.com
State-run cos to launch container shipping line
In a significant push for self-reliance, Indian state-owned enterprises are collaborating to establish a new container shipping line. This strategic venture, led by the Shipping Corporation of India and the Container Corporation of India, seeks to diminish the country's dependence on international shipping services for its extensive trade operations.
cityfalcon.com
India equity benchmarks set to open higher as upbeat results lift sentiment
India’s stock benchmarks are poised to open higher on Thursday, lifted by strong earnings from Grasim Industries, Sun Pharma and Britannia Industries, though analysts expect consolidation to continue after October’s sharp rally. Gift Nifty futures were trading at 25,727.5 points as of 7:56 a.m. IST, indicating that Nifty 50 will open above Tuesday’s close of 25,597.65. Indian markets were closed for a local holiday on Wednesday. Both the benchmarks lost about 0.6% each in the last session dragged down by profit booking, mostly in IT stocks, as mixed signals from U.S. Federal Reserve officials clouded expectations of a December rate cut. After rising 4.5% in October, the benchmarks have lost 0.5% so far this week, with analysts expecting further consolidation. Meanwhile, upbeat September-quarter earnings from benchmark constituents such as Grasim Industries and Sun Pharma boosted sentiment. Textiles-to-paints firm Grasim reported higher profit, driven by strong demand for its chemical products, while robust domestic sales helped drugmaker Sun Pharma post a better-than-expected quarterly profit.
cityfalcon.com