The Department of Disinvestment, Ministry of Finance, Government of India has appointed Legal, Advocates & Solicitors as legal advisors to divest equity capital of NMDC, the country’s largest iron ore maker. The government is looking to divest 10% paid up equity capital of the company out of its shareholding of 90% through ‘Offer for Sale by promoters through the stock exchanges’ (OFS) method.
NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.
The company has reported a fall of 14.49% in its net profit at Rs 1678.62 crore for second quarter ended September 30, 2012 as compared to Rs 1963.15 crore for the same quarter in the previous year. Total income of the company has decreased by 10.35% at Rs 3195.06 crore for quarter under review as compared to Rs 3564.08 crore for the quarter ended September 30, 2011.
| Company Name | CMP |
|---|---|
| Coal India | 438.70 |
| NMDC | 89.78 |
| GMDC | 733.40 |
| Sandur Manganese | 218.35 |
| MOIL | 327.60 |
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