Street Signs: A case for PSU share sales, Nova Agri GMP at 50%, and more

The promoter shareholding in Jio Financial Services, a unit spun off from Reliance Industries, has edged higher for a second straight quarter

A case for more PSU share sales
 

The success of NHPC’s Rs 2,400-crore offer for sale (OFS), which concluded on Friday, could pave the way for further disinvestment by the government. The share sale not only witnessed strong demand but the hydropower company’s shares also rallied in the secondary market, even as the government offloaded 3.5 per cent stake. This was in contrast to the past when PSU stocks tended to crash after the government launched an OFS. On Saturday, NHPC rallied 10 per cent amid strong buying momentum in other PSUs, as well. “This is an opportune time for