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Jaitley to encourage investmesnts in PSEs

The government would encourage the central public sector enterprises (CPSEs) to divest individual assets like land and manufacturing units to release their asset value for investing in new projects, said Finance Minister Arun Jaitley here on Monday.

State-run miner Coal India on Monday said it acheived a production of 52.86 million tonnes coal in January, lower than the target of 56.18 MT for the month.
Tyre Corporation of India is among the public sector units that had earlier been cleared for revival through the joint venture or disinvestment route.
Hindustan Petroleum (HPCL) shares climbed nearly 6 per cent after the company swung back into black with a Rs 1,042.26 crore profit for the December quarter.
Net profit came in at Rs 3,262.5 crore in the same quarter of the previous fiscal, Coal India (CIL) said in a filing to BSE.
The Cabinet had last week approved 10% stake sale in Coal India. As many as seven merchant bankers had bid for managing the disinvestment of CIL.
Fall in oil price meant turnover dropped to Rs 85,384.81 crore in Q2 as opposed to Rs 111,663.81 crore a year ago.
According to a CIL official, a tender document has been drafted by the PSU to set up an IT-enabled system to monitor and evaluate projects.