Share market LIVE: BPCL disinvestment, FM’s telecom relief fail to lift sentiment; Sensex ends lower

FE Online
stock market live: BSE sensex, NSE nifty news

Share Market News Today | Sensex, Nifty, Share Prices LIVE: The Narendra Modi-led government’s latest BPCL privatisation boost and mega telecom relief failed to lift sentiments on Thursday, as the Sensex receded from record high. The Sensex closed 76 points down to 40,575, while the Nifty ended below the 12,000-mark. In a mega divestment move, the government on Wednesday approved the strategic disinvestment of five PSUs, including Bharat Petroleum (BPCL). The buyers will get complete management control for BPCL, Finance Minister Nirmala Sitharaman said in a media briefing after the cabinet meeting. However, Numaligarh Refinery will not be disinvested, Nirmala Sitharaman added. Other than BPCL, the remaining CPSEs included SCI, CONCOR, THDCIL, and NEEPCO. The government also cleared the proposal to reduce its direct holding in these PSUs to below 51 per cent. In a relief to telecom players reeling under financial stress, the Union Cabinet on Wednesday decided to defer thousands of crores of rupees in dues from the telecom companies towards spectrum payments. The spectrum payment installment dues have been decided to be deferred from the year 2020 to 2022, without any increase in the charges, Finance Minister Nirmala Sitharaman said at a press briefing to announce the Cabinet decisions. However, interest will be charged on the delayed payments, so as to keep the NPV (net present value) the same, she said. We bring to you highlights.

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