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SCI stake sale expected by Nov-Dec

Shipping Minister Ved Prakash Goyal said on Monday he expected the stake sale in Shipping Corporation of India, the country's biggest shipping line, to be completed by November-December.

"I see no problem. It is progressing well and should be completed by November-December," Goyal told reporters.

Fertiliser Minister S S Dhindsa, who was also present at the meeting, said he had written to the prime minister asking him to defer the divestment of National Fertiliser.

"This is my suggestion. I am yet to receive a reply," Dhindsa told reporters. Shares of some state-run companies had plunged in the afternoon on market talk the government had postponed the privatisation of Shipping Corporation of India.

Shortly before the market closed, SCI tumbled 15.4 per cent to Rs 72.25.

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