Select PSU shares in demand on divestment buzz

Nalco, MMTC, Hindustan Copper, Oil India and Neyveli Lignite Corporation are up 2-5% on the BSE

Shares of select public sector undertaking companies (PSU) were in focus ahead of Cabinet Committee on Economic Affairs (CCEA) meeting on Friday, 14 September 2012 to consider the disinvestment plan.

National Aluminum Company (Nalco), MMTC, Hindustan Copper, Oil India and Neyveli Lignite Corporation were trading higher by 2-5% on the Bombay Stock Exchange (BSE).

The CCEA is likely to take up proposals for disinvestments in these five state-owned companies in Friday’s meeting, a report suggests. The Government aims to mobilise Rs 30,000 crore through disinvestment in the current fiscal.

Among the individual stocks,Nalco surged 5.4% at Rs 55.15, followed by Neyveli Lignite Corporation (up 4%), MMTC (up 3%), Hindustan Copper and Oil India (2% each) on the BSE.