{"id":3237,"date":"2020-01-11T00:51:29","date_gmt":"2020-01-11T00:51:29","guid":{"rendered":"https:\/\/jobbinghood.com\/finance\/2020\/01\/11\/cabinet-approved-disinvestment-of-stake-in-ninl-not-nmdc\/"},"modified":"2020-01-11T00:51:29","modified_gmt":"2020-01-11T00:51:29","slug":"cabinet-approved-disinvestment-of-stake-in-ninl-not-nmdc","status":"publish","type":"post","link":"https:\/\/jobbinghood.com\/magazine\/2020\/01\/11\/cabinet-approved-disinvestment-of-stake-in-ninl-not-nmdc\/","title":{"rendered":"&#8216;Cabinet approved disinvestment of stake in NINL, not NMDC&#8217;"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"article-image\">\n<figure><img fetchpriority=\"high\" decoding=\"async\" class=\"lazy lazy-hidden wp-image-1819365 size-full\" src=\"http:\/\/www.financialexpress.com\/wp-content\/plugins\/a3-lazy-load\/assets\/images\/lazy_placeholder.gif\" data-lazy-type=\"image\" data-src=\"https:\/\/images.financialexpress.com\/2020\/01\/cats-714.jpg\" alt=\"NMDC,\u00a0PSU,\u00a0BHEL,\u00a0PSU,\u00a0MMTC,\u00a0sale of PSus\" width=\"660\" height=\"440\" srcset=\"\" data-srcset=\"https:\/\/images.financialexpress.com\/2020\/01\/cats-714.jpg 660w, https:\/\/images.financialexpress.com\/2020\/01\/cats-714-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2020\/01\/cats-714-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2020\/01\/cats-714-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><noscript><img decoding=\"async\" class=\"wp-image-1819365 size-full\" src=\"https:\/\/images.financialexpress.com\/2020\/01\/cats-714.jpg\" alt=\"NMDC,\u00a0PSU,\u00a0BHEL,\u00a0PSU,\u00a0MMTC,\u00a0sale of PSus\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2020\/01\/cats-714.jpg 660w, https:\/\/images.financialexpress.com\/2020\/01\/cats-714-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2020\/01\/cats-714-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2020\/01\/cats-714-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><\/noscript><span class=\"article-caption\">Some people for their vested interest are spreading rumours on social media and in general public that NMDC is being disinvested which has created an atmosphere of confusion.<\/span><\/figure>\n<\/div>\n<p><a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/nmdc-ltd-stock-price\/\" rel=\"noopener noreferrer\">NMDC<\/a> Chairman and Managing Director N Brijendra Kumar on Friday said that the Union Cabinet has approved disinvestment of stake of six public sector units (PSUs) in Neelachal Ispat Nigam Ltd, and not that of NMDC.<\/p>\n<p>Neelachal Ispat Nigam Ltd (NINL) is a joint venture company, in which four central PSUs \u2014 MMTC, National Mineral Development Corporation (NMDC), <a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/bharat-heavy-electricals-ltd-stock-price\/\" rel=\"noopener noreferrer\">Bharat Heavy Electricals<\/a> Ltd (<a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/bharat-heavy-electricals-ltd-stock-price\/\" rel=\"noopener noreferrer\">BHEL<\/a>) and MECON \u2014 and two Odisha government companies, IPICOL and Odisha Mining Corporation (OMC), are shareholders.<\/p>\n<p>The government on Wednesday gave in-principle approval for strategic sale of NINL by allowing six PSU shareholders to sell their stake in the steel company. \u201cStill confusion is being created by some ppl regarding disinvestment in #NINL,a joint venture company of central and state PSUs in the State of Odhisha. The present decision is not for the disinvestment of @nmdclimited . I repeat No Disinvestment of #NMDC by the present decision,\u201d Kumar said in a tweet.<\/p>\n<p>Some people for their vested interest are spreading rumours on social media and in general public that NMDC is being disinvested which has created an atmosphere of confusion. NMDC is just a stakeholder in NINL, he told PTI. Kumar said people must read the government\u2019s decision with regard to NINL and understand that the decision is not related to divestment of NMDC.<\/p>\n<p>MMTC holds 49.78 per cent share in NINL, followed by OMC (20.47 per cent), IPICOL (12 per cent), NMDC (10.10 per cent). MECON and BHEL hold 0.68 per cent stake each in the company. The strategic buyer for NINL will be identified through a two-stage auction procedure, an official statement had said.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from BSE and NSE and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\" https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\" https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Some people for their vested interest are spreading rumours on social media and in general public that NMDC is being disinvested which has created an atmosphere of confusion. NMDC Chairman and Managing Director N Brijendra Kumar on Friday said that the Union Cabinet has approved disinvestment of stake of six public sector units (PSUs) [&hellip;]<\/p>\n","protected":false},"author":348,"featured_media":3238,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-3237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry"],"_links":{"self":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/3237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/users\/348"}],"replies":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/comments?post=3237"}],"version-history":[{"count":0,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/3237\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media\/3238"}],"wp:attachment":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media?parent=3237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/categories?post=3237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/tags?post=3237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}