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Great Eastern Shipping (GE Shipping), Mercator, Chowgule Steamship, Essar Shipping and Seamac were up in the range of 3% to 5%, as compared to 0.09% rise in the S&P BSE Sensex at 10:02 am.
According to sources, the core group of secretaries on disinvestment, headed by the cabinet secretary, discussed the proposal and has mandated the Shipping Ministry to find out legal hassles, if any, in the process, the PTI report suggests.
The government, at present, holds 63.75% stake in Navratna PSU Shipping Corporation of India. After the sale of 26%, the government holding in the company will come down to 37.75%.