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India can sell 386 billion rupees ($6.3 billion) of shares in companies such as Axis Bank Ltd. and Larsen & Toubro Ltd.

India can sell 386 billion rupees ($6.3 billion) of shares in companies such as Axis Bank Ltd. (AXSB) and Larsen & Toubro Ltd. (LT) by March as it seeks to narrow the budget deficit, the head of JPMorgan Chase & Co. (JPM)’s local unit said.

Prime Minister Manmohan Singh’s government can reach its 400 billion-rupee target for the fiscal year through March 31, Kalpana Morparia, head of the U.S. lender’s local operations, said in an interview with Bloomberg TV India in Mumbai. Sales so far have raised 13.3 billion rupees, the Department of Disinvestment’s website shows.

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