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Shares of state-owned companies Oil and Natural Gas Corporation (ONGC) and Coal India are trading higher by over 2% each on reports that the government has deferred plans for disinvestments in both these companies until January.
Coal India surged 3% to Rs 376, bouncing back 4% from intra-day low on National Stock Exchange (NSE). The stock opened at Rs 362 and touched a low of Rs 361 in early morning deal.
ONGC was up 2.4% at Rs 345 on NSE.
“The current market conditions do not augur well for launching public offers of Coal India and ONGC in the next few days,” the Economic Times report suggests quoting a unnamed senior government official.
Coal India surged 3% to Rs 376, bouncing back 4% from intra-day low on National Stock Exchange (NSE). The stock opened at Rs 362 and touched a low of Rs 361 in early morning deal.
ONGC was up 2.4% at Rs 345 on NSE.
“The current market conditions do not augur well for launching public offers of Coal India and ONGC in the next few days,” the Economic Times report suggests quoting a unnamed senior government official.
