Steel giant SAIL to sell stakes in three units via auction

State-run Steel Authority of India Ltd (SAIL) has received approval 'in principle' from the government to sell stakes in three units, the company said in a statement on Tuesday.

The company will be selling stakes in the Bhadrawati, Salem and Durgapur steel plants through a two-stage auction process to strategic buyers, the statement said.

SAIL is India's biggest state-owned steel company.