Empowered Group of Ministers (EGoM), headed by Finance Minister P Chidambaram, are likely to meet today, i.e., June 12, to decide upon the base price for MMTC’s stake sale, the issue of which is expected to hit the market on June 13.
The government expects to raise Rs 250-300 crore by divesting 9.33% stake in MMTC, whose base or floor price is nowhere expected to be near the current market price. The government currently holds 99.33% stake in MMTC and the stake sale would help the company to meet SEBI's minimum public shareholding norm.
For the year ended March 31, 2013, the company has reported a net loss of Rs 70.62 crore in FY13 as against a net profit of Rs 70.72 crore in previous years. Total income from operations of the company has decreased to Rs 28916.27 crore as compared to Rs 67051.89 crore in FY12, down by 56.87%.
| Company Name | CMP |
|---|---|
| Redington | 227.70 |
| Adani Enterprises | 2224.00 |
| Amrapali Industries | 17.36 |
| Rashi Peripheral | 471.55 |
| PDS | 292.70 |
| View more.. | |
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