MMTC to partner with SBI to sell govt-minted Indian Gold Coin

STATE-run bullion trader MMTC (Metals and Minerals Trading Corporation of India) will enter into a tie-up with the State Bank of India (SBI) to sell government-minted "Indian Gold Coin". This was disclosed by the PSU’s chairman and managing director Ved Prakash. The PSU, which has already tied up with over half a dozen banks, has so far sold one lakh pieces of "Indian Gold Coin" and has set a target of selling 5 lakh units...

Onion woes: MMTC floats tender for import of kitchen staple

STATE-owned MMTC has invited bids for import of 10,000 tonnes of onion from countries like Pakistan, Egypt, China and Afghanistan to boost domestic supply and check prices. Ii was the second such tender floated by the PSU firm. It has earlier finalised earlier bids for import of 1,000 tonnes at Rs 45 per kg and the shipments will...

Govt likely to sell 5% stake in SAIL by late July

THE Narendra Modi-led NDA government at Centre may sell a five-percent stake in PSU major Steel Authority of India Ltd (SAIL) in the last week of this month, beginning the process of what seems to be a busy divestment schedule, says a media report.

In fact disinvestment as a tool for economic revival was part of the poll promises made by the BJP and Narendra Modi, who...

SAIL to scale down investment by 22% to Rs 9,000 cr, RINL to spend Rs 1724 cr next fiscal

A SAIL unit

MAJOR steel maker Steel Authority of India Ltd (SAIL) plans to scale down investment by about 22 percent to Rs 9,000 crore on expansion and modernization at its five integrated plants during the next fiscal. The highest allocation of Rs 2,960 crore has been proposed for the Bhilai plant, followed by Rs 1,790 crore for the Rourkela plant. SAIL will invest Rs 1,244 crore in Burnpur unit, Rs 642 crore in Bokaro unit and Rs 588 crore in Durgapur unit. The remaining Rs 1,766 crore has been planned to be spent on various schemes...

MMTC, Adani in fray for NTPC’s largest coal tender this fiscal

PUBLIC sector undertaking MMTC (Metals and Minerals Trading Corporation of India) and Adani Enterprises are among the companies in the fray for supplying seven million tonnes (MT) of imported coal valued around Rs 4,500 crore to NTPC, says a report published in a leading financial daily. This was the largest such...