New Delhi: The central government has accelerated the disinvestment process of government companies. The privatization of 8 government companies engaged in the manufacture of fertilizers has got the green signal in the meeting of NITI Aayog. This meeting took place three weeks ago. According to an exclusive report by CNBC-Awaaz, the government has completed the strategic disinvestment of 8 fertilizer companies including Rashtriya Chemical Fertilizer (RCF), National Fertilizer Limited (NFL), and Fertilizer and Chemical Travancore Limited (FACT).
Laxman Roy of CNBC-Awaaz told that the government has taken the decision to disinvest these companies under the new disinvestment policy. The Department of Public Enterprises has also recommended the disinvestment of these companies. The government has a 75 percent stake in National Chemical Fertilizers (RCF), about 74 percent in National Fertilizers Limited (NFL), and 90 percent in Fertilizers and Chemicals Travancore Limited (FACT).
These companies will be privatized
Laxman Roy said that the fertilizer companies identified by the government include 8 companies including RCF, NFL, and FACT. Apart from these three, Madras Fertilizers, Fertilizer Corporation of India and Hindustan Fertilizer Corporation have also been included in the list of disinvestment. RCF mainly manufactures Urea and Complex Fertilizers. NFL manufactures Neem Coated Urea and Bio Fertilizer.
Shares price rise
Shares of National Fertilizer Limited (NFL) are seeing a rise on Tuesday. In intraday, the company’s shares are trading at 52.70 percent with a gain of 2.33 percent on the NSE. At the same time, the shares of Fertilizer and Chemical Travancore Limited (FACT) rose up to 5 percent today, and once this stock reached Rs 129.75. At the time of writing the news, the share of FACT was trading at Rs 126.75 with a gain of 3.43 percent on NSE. Similarly, the stock of National Chemical Fertilizer (RCF) also jumped by nearly 3 percent to Rs 103.70 today.
