Date:07/07/2006 URL: http://www.thehindubusinessline.com/2006/07/07/stories/2006070701881500.htm

Back `Put on hold' puts PSUs in tightspot

Shares of public sector firms Neyveli Lignite Corporation Ltd (NLC) and National Aluminium Company (Nalco) were on the spotlight on Thursday after Government decided to put on hold the disinvestments plans in these companies.

NLC was facing indefinite strike by employees on the Centre's plans to sell 10 per cent in the Tamil Nadu-based company. Government holds 93 per cent stake in the company.

The counter attracted significant volumes and touched the day's high of Rs 64, before the Government decision wiped out earlier gains, dealers said.

The shares closed at Rs 61, unchanged from Wednesday on BSE. Nalco also ended in negative territory at Rs 220.90 compared to previous close of Rs 221.85. The share had touched the day's high at Rs 228, before the Government decision forced investors to sell off their shares, dealers said.

Rajesh Abraham