Nalco may buyback 25% govt holding in co

The Department of Disinvestment is likely to ask the Mines Ministry to ask Nalco to buyback equity of 25 percent of government holding. The Indian government holds around 80.93 percent stake in the company.

Meanwhile, the mines ministry may also move Cabinet note on MMDR Amendment, which will allow transfer of mining leases for captive mines. When the MMDR Bill of 2015 was passed, the provision for transfer of mining leases was only for auction mines. This will now help all the mergers and acquisition, specifically in the cement sector, which is awaiting green signal.

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