Comments
Insurance behemoth LIC has bought 7.98 crore shares, or 2.13 per cent, of NMDC to take its total stake in the state-run iron ore miner to 10.12 per cent.
Based on the current share price of NMDC at Rs 135.60 apiece, LIC’s holding in the company is valued at over Rs 5,440 crore.
The shares have been purchased through open market acquisitions between September 20, 2014, and April 9, 2015, NMDC said in a regulatory filing to the BSE.
Prior to this acquisition, LIC held 8.11 per cent stake in the iron—ore mining company.
Meanwhile, the government is planning to divest 10 per cent stake in NMDC. It has already secured Cabinet approval for the same.
On Friday, shares of NMDC Ltd closed at Rs 135.60 a scrip on the BSE, up by 2.57 per cent from the previous close.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.