Prime Minister Narendra Modi's administration already sold government stakes in a host of companies to raise a record $40.92 billion in his first five-year term, nearly three times the divestment proceeds of $14.52 billion achieved by the Congress party government in 2009-2014.

Prime Minister Narendra Modi's administration already sold government stakes in a host of companies to raise a record USD 40.92 billion in his first five-year term.

Share Market Live: Benchmark equity indices Sensex and Nifty are trading flat, pressured by selling in banks and financial services indices  amid mixed global cues. Broader Asian markets saw limited gains as uncertainties over trade and economic growth dampened sentiment.

To begin with, the guidelines would be applicable to those central public sector undertakings which are likely candidates for strategic disinvestment

On November 30, ONGC's market value remained 34 per cent below its all-time high annual average of Rs 2,72,663 crore for financial year 2013/14.

Centre will be hoping things pan out soon since it has so far raised only Rs 10,028 crore from disinvestment but not all experts agree with the government's move.

The guidelines set by the Department mandate that companies worth Rs 2,000 crore, and cash and bank balance more than Rs 1,000 crore have to mandatorily buy back shares.

The Sensex and Nifty recovered in trade today led by strong buying in metal stocks amid mixed global cues. While the Sensex rebounded by about 96 points to end at 34,427, Nifty closed at 10,565, up 39  points, or 0.37 per cent. Investor sentiment was optimistic ahead of quarterly earnings of some key companies, including TCS.Tata Steel, YES Bank and Bharti Airtel were the top Sensex gainers. Aluminium prices on the London Metal Exchange surged 5 percent to their highest in almost...

Investor sentiment was optimistic ahead of quarterly earnings of some key companies, including TCS. Overseas, Asian stocks rose, building on gains a day earlier, even as oil prices climbed to three-and-a-half year highs. Tata Steel (3.17%), YES Bank (2.83%) and Bharti Airtel (2.64%) were the top Sensex gainers.

Earlier, the Sensex hit an all-time high of 34,488 level intra day. Nifty too touched lifetime high of 10,659 in trade today.

The Sensex rose 104 points to close above the 33,000 mark forthe second consecutive day at 33,147 level on last day of October series. The Nifty too rose 48 points to close above the 10,300 levelfor the first time. The index ended at 10,343 level in Thursday's trade.