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Hindustan Aeronautics’s 15% OFS likely early March

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Hindustan Aeronautics Ltd

New Delhi, Feb 8 : Stepping up its efforts to achieve the target of Rs 65,000 crore in FY20, Disinvestment Department (DIPAM) may issue the 15 per cent government equity for sale through OFS route in the first week of March for Hindustan Aeronautics Ltd, sources said.

At the current market price of Rs 774 apiece, the share sale will fetch the government a little over Rs 3843 crore. The company had reported a net profit of Rs 2,282 crore in fiscal 2018-19.

Sources said the efforts are on to hold the OFS by March first week. OFS is the quickest way to go for receipts for fetching sell-off revenues. Last month, the department issued request for proposals (RFP) from merchant bankers and brokers for the OFS.

The government holds 89.97 per cent of equity in HAL. The face value of each equity share is Rs 10. So far the government has garnered Rs 34000 crore which includes Rs 16,500 crore from the 7th tranche of the CPSE ETF.

The authorised share capital of the 55-year old company is Rs 600 crore and the paid up equity capital is Rs 334.39 crore as of March 31, 2019.

“The government is also considering allotting shares to eligible and willing employees of HAL at a discount to the Issue/discovered price (lowest cut off price) up to a maximum of certain percentage of the OFS size subsequent to completion of the transaction under OFS. The percentage and extent shall be decided in due course,” it said.

Cities

Two more Covid-19 cases in Bengal, count now 20

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Covid 19 Doctor

Kolkata, March 29 : Two persons, including an Army doctor, were on Sunday detected with the coronavirus infection here – in the first case of a medico getting afflicted with the dreaded Covid-19 in West Bengal, where the disease count has now gone up to 20.

The 52-year-old anaesthesiologist is now admitted at the Command Hospital, Alipore, state Health Department sources said.

A 66-year-old man also tested positive for the disease.

One person has died due to Covid-19 in the state so far.

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India

979 confirmed COVID-19 cases in India, 106 new cases, 6 new deaths

Coronavirus Outbreak LIVE Updates: 106 new cases, six deaths in last 24 hours, total now 979, says health ministry

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Coronavirus Symtoms

New Delhi, March 29 : 979 confirmed COVID-19 cases in India, 106 new cases, 6 new deaths.

  • Maharashtra was the worst hit state, followed by Kerala and Karnataka
  • 87 coronavirus patients have been cured/discharged across the countr

Here is state-wise tally of total coronavirus cases in the country:

  • Andhra Pradesh 14
  • Andaman and Nicobar Islands – 9
  • Bihar – 9
  • Chandigarh – 8
  • Chhattisgarh – 6
  • Delhi – 39 ( including 1 foreign national)
  • Goa – 3 ( including 1 foreign national)
  • Gujarat – 53 ( including 1 foreign national)
  • Haryana – 33 ( including 14 foreign nationals)
  • Himachal Pradesh – 3
  • Jammu and Kashmir – 31
  • Karnataka – 76
  • Kerala – 182 ( including 8 foreign nationals)
  • Ladakh – 13
  • Madhya Pradesh – 30
  • Maharashtra – 186 ( including 3 foreign nationals)
  • Manipur – 1
  • Mizoram – 1
  • Odisha – 3
  • Puducherry – 1
  • Punjab – 38
  • Rajasthan – 54 ( including 2 foreign nationals)
  • Tamil Nadu – 42 ( including 6 foreign nationals)
  • Telengana – 66 ( including 10 foreign nationals)
  • Uttarakhand – 6 ( including 1 foreign national)
  • Uttar Pradesh – 55 ( including 1 foreign national)
  • West Bengal – 17

While 319 of the positive cases were Indian, 41 are foreigners, the Health Ministry said in the 6.30 p.m. update.

“A total of 24 patients have been cured and discharged. Seven deaths have been reported across the country,” the Health Ministry said.

Among the 23 states and union territories where the cases were found, Maharashtra has the highest patient count followed by Kerala.

The number of cases across the country has been increasing on a drastic speed.

While Bihar, Punjab, Delhi, Gujarat, and Karnataka have reported one each coronavirus related deaths, Maharashtra has reported two deaths as of now.

A total of 75 districts across the country have been put under lockdown, with only essential services allowed.

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India

Rahul expresses Congress’s solidarity with govt in COVID-19 fight

Rahul said the sudden lockdown, announced by the government, created panic and confusion, and closure of factories, small industries and construction had rendered tens of thousands of migrants jobless forcing them to return to their villages.

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daily wages workers

New Delhi, March 29 : Congress leader Rahul Gandhi in a letter to Prime Minister Narendra Modi here on Sunday expressed his party’s solidarity with the government in the time of crisis and also suggested measures to overcome the panic and insulate the economy.

“The number of poor, who are daily wagers, is simply too large to shut down all economic activities. The consequences of economic shutdown will only add the Covid-19 toll,” said the former Congress chief. The shutdown could cause “catastrophic” loss of life, he added.

He urged the government to consider a nuanced approach, taking the complex realities of the country into consideration, prioritise protection of the elderly and the vulnerable, and communicate clearly to the young about the dangers.

Rushing of millions of people to their villages due to lockdown in cities would increase the risk of spread of coronavirus infection to their folk back home, he said. “This will lead to catastrophic loss of life,” Gandhi said.

“We must strengthen the social safety net and use every public resources to support and shelter the working poor,” he said.

The Congress leader also called for setting up of dedicated hospitals with thousands of beds and ventilators, and intensifying coronavirus tests to get an accurate picture of the spread of infection and to formulate suitable measures to contain it.

Rahul said the sudden lockdown, announced by the government, created panic and confusion, and closure of factories, small industries and construction had rendered tens of thousands of migrants jobless forcing them to return to their villages.

He urged the Prime Minister to help them find shelter and provide money directly into their bank accounts to let them tide over the crisis.

Expressing his and millions of Congress workers’ solidarity with the government in this immense humanitarian crisis, Gandhi suspected that the government might extend the lockdown.

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