India will sell shares in state-owned oil and gas companies and coal companies in 2019-20

According to the Economic Times of India, the government may also reduce its stake
in India's national oil and gas company ONGC and Coal India by up to 5% in 2019-2020.

On the news, ONGC shares fell 3.
26 per cent to Rs 156, while Coal India shares fell 2.
48 per cent to Rs 235.
90
.

According to a report by ETNow, the government will try to reduce its stake
in the business in line with the minimum shareholding guidelines for the current financial year.

The report said the government was likely to sell 10 per cent stakes each of GIC and New India Insurance Corporation to raise Rs 60-700 crore to raise funding
.
Meanwhile, the government may also sell up to 5% of the stakes
in ONGC and Coal India during 2019-2020.

ETNow reported that the government could raise Rs 4,000 crore
through the ETF route in the current financial year.

"The government may want to reduce the equity of some companies to less than
51% with existing ETFs.
It will also seek to raise funds through the monetization of assets under various PSUs," the report said
.

The government also received at least Rs 7,000 crore from PSU dividends and about Rs 3,000 crore
from strategic sales in the current financial year.
The government is also expected to bring in at least Rs 15,000 crore in revenue
from the strategic sale of Air India.