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Construction : Deals | October 2014 | Source : Construction Update

New gas prices and diesel regulation likely to push ONGC valuation

Government of India plans to rake in Rs 63,425 crore during FY15 government through divestment route. The recent decision of the government with regard to fixing gas prices at $5.61 per mmBtu effective from November 1 and diesel prices de-regulation is likely to help public sector companies like ONGC to earn additional profits and a much higher valuation for the Government stake sale proposal. Based on the current market scenario, even if govt sells 5% of its stake in ONGC, it is likely to get a sale value of Rs 20,000 crore.
 
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