NMDC has moved a step closer to commissioning the Coke Oven Battery at its upcoming three million tonne greenfield steel plant at Nagarnar by charging the Coal Handling System to initiate the commissioning of the coalroute of the plant’s raw material handling system.
Often trailing their privately owned peers for most of the year, stocks of government companies become star buys as the financial year draws to a close. The reason? Dividends.
The government’s 2.52 per cent stake sale in state-owned miner NMDC saw robust response from investors with the retail portion getting over-subscribed by 5.40 times today.
NMDC was trading 4% lower at Rs 155 on BSE in early morning trade as the government 1.5% stake sale programme in mining company commenced today.
From doubling its iron ore output in five years to seeking more diamond mines in Madhya Pradesh as well as planning a joint venture foray in Vietnam for tungsten mines, NMDC Ltd is pursuing a multiple-pronged growth strategy.
State-run miner NMDC is likely to soon sign an MoU with Vietnam-based Masan Resources for a possible acquisition of a minority stake in a tungsten mine in the Southeast Asian nation, a top company official said today.
The 445-km Kothavalasa-Kirandul line, popularly called the KK line, runs through the dense mountains of the Eastern Ghats.
State-owned National Mineral Development Corporation (NMDC) is awaiting the Union Cabinet’s approval to acquire a minority stake in a tungsten mine in Vietnam as part of India’s effort to reduce dependence on China for this key raw material used for defence purposes.
State-owned NMDC Ltd today said that Bastar Railway Private Ltd (BRPL) and IRCON have signed a project execution agreement, under which the latter will construct a 140-km long railway line between Jagdalpur to Rawghat in Chattisgarh.
The process for strategic divestment of NMDC’s Nagarnar Steel plant in Chhattisgarh has kicked-off, the company said today.