Comments
The finance ministry has approved state-owned iron ore producer NMDC’s share buyback plan worth Rs 1,000 crore, an official said.
The timeline for the launch of the offer will be decided by NMDC’s board.
“NMDC’s Rs 1,000 crore share buyback offer has been approved by the finance ministry,” the official said.
The government has already lined up buyback offers of nine PSUs including ONGC, Oil India, IOC, NHPC, BHEL, Nalco, Cochin Shipyard, NLC and KIOCL. These would cumulatively fetch about Rs 9,000 crore to the exchequer.
The government holds 72.43 per cent in NMDC.
Stock of NMDC closed at Rs 94.95, down 0.11 per cent from the previous close on BSE.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.