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Shares of select public sector undertaking (PSU) companies were trading higher for the second straight day with Dredging Corporation of India (DCI) and State Trading Corporation of India (STC India) has rallied more than 30% in past two trading sessions on the BSE. Hindustan Copper, STC India and DCI were up more than 10% on Thursday. Shipping Corporation of India, HMT, Scooters India and ITDC were up 5% each, as compared to 0.06% rise in the S&P BSE Sensex at 33,621 points at 11:12 AM. DCI hits a 52-week high of Rs 788, up 18% on the BSE in intra-day trade, extending its Wednesday’s 20% surge after the media report suggests that the government approved the sale of its entire 73.47% stake in the company. According to PTI report, the Cabinet had approved DCI disinvestment, official sources said after the Cabinet meeting, chaired by Prime Minister Narendra Modi. They said the Cabinet had approved the sale of government’s entire 73.47% stake in the company which could fetch about Rs 1,400 crore to the exchequer, it added. On clarification of news report, DCI said that there is no information/announcement (including pending announcement) with regard to the stated news item.
As such we are unaware of the news item and its source, it added.
|Company||Promoter stake in %||31/10/2017||LTP||% chg|
|S T C||90.0||182.80||241.25||31.97|
|Andrew Yule & Co||89.3||30.30||33.85||11.72|
|I T D C||87.0||519.95||576.55||10.89|
|LTP : Last traded price on BSE in Rs at 11:26 am|
|Source : CapitalinePlus|