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Monnet Ispat in preliminary talks to sell stake in Monnet Power Company

25 Mar 2015 Evaluate

In a bid to sell partial stake in its power business, Monnet Ispat & Energy is in preliminary talks with potential buyers. The company’s power business unit -- Monnet Power Company -- has significant liabilities. Moreover, groups like Adani and JSW are in race to buy controlling stake in Monnet Power for over Rs 3,000 crore.

Monnet Ispat is engaged in the business of sponge iron, steel ingot & billets and coal mining.

Peers
Company Name CMP
JSW Steel 1248.80
Tata Steel 182.85
Steel Authority 173.05
Jindal Stainless 730.75
APL Apollo Tubes 2116.50
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