Govt Unlikely To Sell Stake In SAIL: Analysts

<?xml version="1.0" encoding="UTF-8"?><root available-locales="en_US," default-locale="en_US"><static-content language-id="en_US"><![CDATA[<p>The government is unlikely to sell a partial stake in Steel Authority of India, and will wait for a further recovery in the share price, according to analysts.<br><br>The cabinet is meeting on 19 July to discuss a potential sale of part of the government's 85.8 per cent stake in the country's largest domestic steel maker.<br><br>India has previously said it plans to sell stakes in 15 state-run firms by the end of March 2013 in a bid to raise 300 billion rupees to help narrow its fiscal deficit.<br><br>"Valuations and price needs to grow before government can divest stake in the company. It's highly unlikely that government will sell stake at current prices," said an analyst at a large domestic brokerage who tracks the company.<br><br>SAIL shares are trading well below the one-year high of 135.25 rupees hit on July 26, 2011.<br><br>Shares in SAIL was trading flat at 93.20 rupees, after earlier gaining as much as 1.2 per cent.<br><br>(Reuters)</p>