Malaysia awarded IRCON International Ltd to design, construct, commission and maintain the proposed electrified double-track rail at the country's Seremban-Gemas sector. IRCON's latest project comes after an earlier Ipoh-Padang Besar project in 2001-2003, for which the Malaysian government had considered the Indian company but later shelved the plan.
The government currently holds 87.40 per cent stake in IRCTC. To meet Sebi's public holding norm, it has to lower its stake in the company to 75 per cent.
The proposal, in preliminary stages, is likely to be finalised within a couple of months.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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