Govt-Owned Stocks in Focus: Petronet LNG, GAIL, Bharat Electronics, NMDC & More

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Govt-Owned Stocks in Focus: Petronet LNG, GAIL, Bharat Electronics, NMDC & More
Credit: © Reuters.

By Malvika Gurung -- Petronet LNG (NS: PLNG ): The biggest gas importer in the country will invest Rs 40,000 crore over the next 5 years for the expansion of import infrastructure and foray into a new business for boosting profitability to Rs 10,000 crore.

NMDC (NS: NMDC ): The Centre will likely invite preliminary bids for the strategic sale of the state-owned mineral producer’s Nagarnar Steel Plant in Chhattisgarh by the end of March. 

GAIL (NS: GAIL ): The last day for buying the natural gas company’s shares for the bonus issue is on Sept 5. Investors will be given one bonus share for every two existing shares held on the record date.

Life Insurance Corporation Of India (NS: LIFI ): The insurance behemoth has raised its shareholding in the steel producer JSW Steel (NS: JSTL ) from 5% to 7%.

Bank of Baroda (NS: BOB ): The state-owned lender has raised Rs 2,474 crore through the issuance of bonds at the rate of 7.88% through stock exchanges.

Bharat Electronics (NS: BAJE ): The aerospace and defence electronics company has entered into an agreement with the threat detection and screening technologies company Smiths Detection India for the manufacture of High-Energy scanning systems in India.

MSTC (NS: MSTC ): The e-comm service provider aims to expand its offering for private players and has tied up with companies like Reliance Industries (NS: RELI ), Tata Power (NS: TTPW ), L&T (NS: LART ) and Vedanta (NS: VDAN ), as per a PTI report.

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