Coal India and Hindustan Copper to be divested

On Tuesday, the government gave its nod for the disinvestment of 10 per cent stake in Coal India, while for Hindustan Copper the idea is to issue 10 per cent fresh equity. Both are state-run companies and their disinvestment is part of the plan followed by government to go ahead with the process.

The money thus raised, said sources, will be used as capital expenditure for various purposes. The approval was given by the Cabinet Committee on Economic Affairs in its meeting. It was presided over by the Prime Minister, Manmohan Singh.