The Mint report

The Mint report

New Delhi: State-owned hydropower company NHPC will start selling 160 crore shares tomorrow. The sale is part of the company’s disinvestment programme and will bring the government’s stake down to 86% from 100%.

The government plans to build about one lakh homes for paramilitary force personnel. It’s hoping the project will help revive the country’s housing sector. And to speed up construction, it’s considering inviting bids from private companies. Today only one in about every seven members of the paramilitary forces has government accommodation. There are currently has about 7.7 lakh paramilitary personnel in India.

Dewan Housing Finance Corporation Ltd. plans to enter the private equity market. It’s joining hands with an American firm Red Wood Capital Partners to create a private equity fund that will invest in logistics and warehousing companies.

Petroleum minister Murli Deora told Parliament there would be no nationalizing of Reliance Industries gas fields. On Thursday several Rajya Sabha member said they were concerned about the dispute between RIL and RNRL and how it could affect a national assets like natural gas.

Markets lost heavily on Thursday. The Sensex plummeted 390 points to end trade at 15,514, while the Nifty went down 109 points to close at 4,586.

Wholesale prices have fallen for the eighth straight week. Reserve bank figures show the wholesale price index was down 1.58% in the week ending on the 25 July. Despite the decline, the bank expects inflation to pick up in the coming months, and has not cut key rates.

The BJP is looking for young blood. After losing two general elections, it wants to bring in a new generation of youthful leaders to campaign in a country where more than half the population is less than 25 years of age. The initiative is being supported by party chief L.K. Advani and is expected to come up when the top leadership of the BJP meet in Shimla on 17 August.