Eyes on NMDC, MOIL buyback proposals

Tuesday will see two mining majors — NMDC and MOIL — considering buyback proposals. Analysts will closely monitor the respective boards’ pronouncements on Tuesday to elaborate on the number of shares and the price at which those shares would be bought back. Employees and retail investors will get a discount of 5 per cent to the issue price. The Centre is also planning to dilute its stake in NMDC through an offer-for-sale.