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Jul 11, 2013

CCEA approves disinvestment of STC, ITDC

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disinvestment in india

In a significant development, the Cabinet Committee on Economic Affairs (CCEA) has approved to disinvestment of governments stake in State Trading Corporation (STC) and India Tourism Development Corporation (ITDC), on Thursday.

The shares of the STC were tumbled at BSE on Thursday noon following the approval for disinvestment of 1.02 per cent government’s stake. The CCEA also approved to offload five percent of the stake in ITDC.

The government would generate around Rs30 crores by selling its stake in these corporations through offer for sale route.

Currently, the government of India has 92.11 per cent stake in ITDC and 91.02 per cent stake in STC.


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