/ Government Sells $619 million Stake In Larsen & Tourbro ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 22 June 2017

In Wednesday India sold a 2.5% stake in the engineering and construction group Larsen & Turbo Ltd. And it will help the government to meet its annual fiscal deficit target and raised more than 40 million rupees.

Neeraj Gupta said that, the state owned Specified Undertaking of the Unit Trust of India, and it sold block deals in the stock market, and they are looking out the government meet its annual fiscal deficit target. SUUUTI owned its 6.68% in L&T in the end of March.

India is raising the 725 billion rupees through the sales of the partial government stakes and in the private firms in the year of March 2018, and also contributing fiscal deficit target of 3.2% of the gross domestic product. L&T shares rise up to 0.6% at 0800 GMT and its outperforming percentage falls by 0.4% in the NSE index.

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