SCI, NMDC Steel at advanced stages of strategic sale, await nod from PMO

The government's disinvestment agenda is ongoing but faces challenges, according to a senior official. Some PSUs, such as NMDC Steel Limited (NSL) and Shipping Corporation of India (SCI), are nearing strategic sale stages, pending approval from top political levels. NMDC Steel's sale is nearly complete, requiring only financial bids, but faces political hurdles and opposition from workers’ unions. Home Minister Amit Shah's statement against privatising the Nagarnar steel plant complicates matters. SCI’s sale is also politically sensitive, though progress was made after resolving a stamp duty issue for its non-core arm. Smaller companies like Projects & Development India Ltd and HLL Lifecare are also up for sale, while BEML Limited's sale is delayed due to land issues. Disinvestments for FY25 lack specific targets, with an estimated Rs 50,000 crore expected from non-debt capital receipts. NSL, SCI, and BEML shares have seen recent declines.