The Central Government is preparing to bring Offer for Sale i.e. OFS for Cochin Shipyard soon. This means that the government will sell some of its stake in this company. From the investors’ point of view, this news can turn into a great opportunity, because according to reports, the government can offer these shares in the market at a discount of about 6 to 8 percent from the current price.
According to media reports, the government is going to reduce its stake in Cochin Shipyard under the disinvestment plan. As soon as this news came out, the effect of selling on the shares of this company started appearing in the market. However, after the initial shock the stock made a spectacular comeback. Around 3 pm, the stock of Cochin Shipyard was trading at Rs 1,480.60 with a rise of 1.54 per cent.
Great opportunity to invest cheaply
Offer for Sale is a transparent way of selling its stake by the promoters of any listed company (in this case the Government of India). Sources say that in this OFS of Cochin Shipyard, investors can get a direct discount of 6-8 percent from the current market price. For investors who wanted to buy shares of this strong company, this could prove to be a great way to include this stock in their portfolio at a low price.
16 thousand crores have come into the treasury so far
In the current financial year (FY27), the government is working very fast on the disinvestment front. The government has set a big target of raising Rs 80,000 crore this year through stake sale and asset monetization in public sector undertakings (PSUs). In this series, till now an amount of more than Rs 16,000 crore has been raised through OFS. On Wednesday itself, the government sold 5 percent of its stake in General Insurance Corporation of India (GIC Re), which fetched about Rs 3,000 crore. Arunish Chawla, Secretary, Department of Investment and Public Asset Management (DIPAM) said on social media platform X that this offer of GIC has received an excellent response from investors. Earlier, the government has raised Rs 5,542 crore from Coal India, Rs 4,357 crore from NHPC, Rs 2,266 crore from Central Bank and Rs 1,223 crore from NLC India.
bullish market environment
On June 22, the Indian stock market performed well. Market sentiment remained quite positive due to the news of a possible deal between America and Iran. On the basis of this news, Nifty registered a strong gain of 0.51 percent (120 points) and reached the level of 24,134. On the other hand, Sensex jumped by 0.54 percent (419 points) and was seen trading at the figure of 77,217. Good buying was also seen in banking shares, due to which Bank Nifty closed in the green with a gain of 0.44 percent.
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Disclaimer: This article is for information only and should not be considered as investment advice in any way. TV9 Bharatvarsha advises its readers and viewers to consult their financial advisors before taking any money-related decisions.
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