Govt’s market kitty zooms in 2009
The government could be among the least active investors in the stock markets, but it appears to have come out the winner in terms of returns.business Updated: Jan 03, 2010 22:01 IST
The government could be among the least active investors in the stock markets, but it appears to have come out the winner in terms of returns.
Its equity portfolio appreciated by about Rs 10 crore in every minute of trade in 2009 resulting in a total gain of Rs 6,50,000 crore.
Riding on the sharp rally in the stock markets during the year just gone-by, when the market gained over 80 per cent, the total value of shares held by either central or state governments nearly doubled to over Rs 14,00,000 crore at the end of 2009 — from about Rs 7,67,000 crore a year ago.
This is based on the change in the value of the government’s shareholding in 2009 in about four dozen PSUs, as also about 170 other companies where they hold shares as promoters or non-promoters.
ONGC is the most-valued PSU with a market capitalisation of over Rs 2,50,000 crore, followed by NTPC.