Eye on divestment target, govt to sell enemy shares, exit Dredging Corp

The 'enemy shares' are valued at Rs 30 bn at current rates, the govt said, while the Centre's 73.47% stake in DCI is valued at Rs 7.17 bn as on Wednesday's closing date

In bid to meet the Centre’s steep Rs 800-billion disinvestment target, the Union Cabinet, on Thursday, approved selling of ‘enemy shares’, currently with the Custodian of Enemy Property for India (CEPI), in 996 companies, and gave its nod to the government divesting its entire stake in Dredging Corporation of India (DCI) to a consortium of four ports.

The ‘enemy shares’ are valued at Rs 30 billion at current rates, the government said, while the Centre’s 73.47 per cent stake in DCI is valued at Rs 7.17 billion as on Wednesday’s closing date. Given the government’s past history with acquisitions within