The department of disinvestment is seeking Cabinet approval to divest stake in companies with less than 10% mandatory public float including Andrew Yule & Company Ltd. (BSE:526173), The State Trading Corporation of India Ltd. (BSE:512531) and India Tourism Development Corp., Ltd. (BSE:532189). The department is also seeking exemption for HMT Ltd. (BSE:500191), Hindustan Cables Limited, Hindustan Photo Films Manufacturing Company Limited, The Fertilisers And Chemicals Travancore Limited (NSEI:FACT) and ITI Limited (BSE:523610) which have been referred to Board for Reconstruction of Public Sector Enterprises. The department is also aimimg to get an exemption in Scooters India Ltd. (BSE:505141), which was earlier to be completely disinvested but now is being considered for revival. Neyveli Lignite Corporation Limited (BSE:513683) are Hindustan Copper Ltd. (BSE:513599) are also expected to be privatized by August 2013.

Scooters India Ltd. announced unaudited earnings results for the third quarter and nine months ended December 31, 2012. For the quarter, the company’s net sales were INR 440.4 million compared to INR 512.3 million a year ago. Loss from ordinary activities before tax was INR 60.3 million compared to INR 49.3 million a year ago. Net loss was INR 60.3 million or INR 1.15 per basic and diluted share before extraordinary items for the period compared to INR 49.372 million or INR 1.40 per basic and diluted share before extraordinary items for the period a year ago. For the nine months, the company’s net sales were INR 1,250.8 million compared to INR 1,343.4 million a year ago. Loss from ordinary activities before tax was INR 178.8 million compared to INR 127.5 million a year ago. Net loss was INR 178.8 million or INR 4.18 per basic and diluted share before extraordinary items for the period compared to INR 127.5 million or INR 2.97 per basic and diluted share before extraordinary items for the period a year ago.

Scooters India Ltd., Board Meeting, Feb 12, 2013. Agenda: To consider the quarterly results.