FSNL
Steel body wants merger of three Companies with SAIL for synergy
The Steel Executives Federation of India (SEFI) has proposed merging state-run Rashtriya Ispat Nigam Limited (RINL), Ferro Scrap Nigam Limited (FSNL), and Nagarnar steel plant with Steel Authority of India Limited (SAIL) to create a stronger public sector entity. It emphasised the potential benefits in achieving capacity expansion targets and addressing resource challenges faced by the individual firms, while questioning the wisdom of FSNL disinvestment.
No plan to impose export duty on steel now; divesting only Nagarnar, not rest of NMDC stake: Secretary
“The position of the government with regard to the NMDC is quite clear it is not divesting anything from the NMDC stake. We are of course going for the strategic divestment of the Nagarnar Steel Ltd. which has been de-merged from NMDC now. That is the only thing on the offer as far as the NMDC is concerned.”
Govt to sell some stake in HZL this fiscal: DIPAM Secretary Tuhin Kanta Pandey
The government currently holds a 29.54 per cent stake in Hindustan Zinc or HZL. In 2002, it sold 26 per cent of HZL to the mining billionaire Anil Agarwal-led group.
Got multiple EoIs for FSNL disinvestment: DIPAM Secy
The Secretary of the Department of Investment and Public Asset Management (DIPAM) on Monday tweeted that multiple expressions of interest (EoIs) have been received for the strategic disinvestment of Ferro Scrap Nigam Ltd (FSNL), a wholly-owned subsidiary of MSTC Ltd.
FinMin invites bids for FSNL privatisation
The finance ministry on Thursday invited bids to sell the entire government stake in Ferro Scrap Nigam Ltd (FSNL). The last date to submit an Expression of Interest (EoI) is May 5.
Govt invites bids from asset valuers for strategic sale of FSNL
"The Department of Investment and Public Asset Management (DIPAM) requires the services of a reputed asset valuer entity — registered with the Insolvency and Bankruptcy Board of India (IBBI), to carry out the company's asset valuation...and assist the government in the process of strategic disinvestment of FSNL...till the completion of the transaction," the DIPAM said while inviting bids.
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Govt targets to conclude ongoing CPSE privatisation this fiscal
The process of privatisation of Air India, BPCL, Pawan Hans, BEML, Shipping Corp and NINL has already moved to the second stage after the government received multiple expressions of interest (EoI) for these CPSEs.
LIC IPO to happen after October: DIPAM Secy
Targeting to raise Rs 1.75 lakh crore from the asset sale to finance projects aimed at reviving the pandemic battered economy, the government is also looking to sell Shipping Corp of India (SCI), IDBI Bank Ltd and two other public sector lenders in the fiscal year beginning April 1.
Budget: LIC IPO coming; 2 PSU banks, 1 insurer to be sold
To facilitate the sale of the LIC stake, the government will need Parliament approval to amend the LIC Act.
Government mops up Rs 19,499 crore from CPSE disinvestment, buyback so far in FY21
FM Nirmala Sitharaman had in her budget for 2020-21 set a target of raising Rs 2.1 lakh crore from privatisation, sale of minority stakes in state-owned companies and share buyback by CPSEs. While Rs 1.20 lakh crore was to come from stake sale in CPSEs, Rs 90,000 crore was to be mopped up from share sale in financial institutions.
Government extends bid deadline for Pawan Hans by a month to February 18
The government owns 51 per cent stake in Pawan Hans, while Oil and Natural Gas Corp (ONGC) holds the remaining 49 per cent. ONGC has decided to offer its entire shareholding in the company for sale along with the government stake.
Govt starts process for strategic sale of Ferro Scrap Nigam
The government would appoint a transaction advisor from reputed consulting firms, investment bankers or financial institutions for providing advisory services to the Department of Investment and Public Asset Management (DIPAM) .
View: GoI’s roadmap for India Inc to join the space economy can unleash many benefits
India now has a chance to become a leading nation in space economy, and the potential benefits are manifold.
Buy MSTC, target Rs 168: Equirus Securities
MSTC is a smallcap company, operating in service sector.
Steel ministry organises a two-day Vigilance Conclave
Inaugurating the conclave on Monday, Central Vigilance Commissioner K V Chowdary said transparency and accountability are the cardinal principles of decision making.
CVC probing 1,962 corruption cases against senior babus: Government
No corruption case is under investigation by CVC against the present managing director of Ferro Scrap Nigam, the government said today in Lok Sabha
Government scraps plan to divest MSTC's subsidiary
MSTC is a metal scrap trading PSU. It also renders services to steel and petrochemical sectors for raw material support.
Steel Minister Narendra Singh Tomar asks SAIL to check falling market share
Asserting that "capacity without production is meaningless", Tomar asked SAIL to resolve issues with regard to modernisation and expansion plan at the earliest.
Narendra Singh Tomar urges PSUs to improve performance during annual review
The minister urged SAIL to improve marketshare and resolve pending issues in its modernization and expansion plan at the earliest, while reviewing its performance.
Steel Ministry looking at merging small PSU units with bigger ones
The committee, which tabled its report in the Lok Sabha today, said the issue of merger of small units came up for discussions during oral evidence.
12 PSUs to provide assistance to Bihar flood-hit
12 public sector undertakings (PSUs) under the Union Steel Ministry came forward with relief assistance to help the 2.5 million affected people.
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