ONGC stake sale may not happen in December

Written By Unknown on Rabu, 03 Desember 2014 | 23.25

Even though the government's stake in MTNL  and BSNL is not on the block, ONGC  divestment definitely is top of its mind. However, CNBC-TV18 learns that the government stake sale in the oil and gas major is likely to be pushed to early 2015 now, from the previous deadline of December. 

This is because the bankers for the divestment process have informed the government that during ONGC's roadshows investors sought clarity on the subsidy-sharing formula and in the absence of that, investors wanted steep discounts.

MTNL stock price

On December 03, 2014, Mahanagar Telephone Nigam closed at Rs 29.00, up Rs 2.30, or 8.61 percent. The 52-week high of the share was Rs 39.10 and the 52-week low was Rs 13.00.


The company's trailing 12-month (TTM) EPS was at Rs 134.30 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 0.22. The latest book value of the company is Rs 80.01 per share. At current value, the price-to-book value of the company is 0.36.


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