Nagpur Power & Industries has received approval from the board of ‘The Motwane Manufacturing Company’ to purchase shares from one of the existing shareholder of ‘The Motwane Manufacturing Company’. Further, the company has initiated the procedure for transfer of shares in demat mode, the said transaction will be completed by next week. Once the transfer is completed the company’s shareholding will be increased from 72.89% to 75.46% in the subsidiary company.
Nagpur Power & Industries mainly operates on metal recovery plant and produces low ferro manganese (Slag) through its profitable slag recovery process.
