The cash-strapped Indian government’s plans to sell a chunk of the Steel Authority of India (SAIL) in the next few weeks as part of a fund-raising disposal of state-owned assets is running into headwinds.

The country’s biggest steelmaker, where New Delhi holds an 86-per-cent stake, on Tuesday posted disappointing quarterly results, increasing expectations that the government will have to offer the shares at a chunky discount – or delay the offering. Read more