CS Verma

SAIL FPO expected to hit the market soon

SAIL FPO expected to hit the market soonThere are indications that a Follow-on Public Offer (FPO) of the Steel Authority of India Limited (SAIL) will be launched in the market this financial year as steel ministry and the department of disinvestment (DoD) seem to have resolved their differences over the matter.

SAIL chairman CS Verma has expressed that the steel ministry and the DoD has reached an agreement on various matters including the valuation of SAIL and the timing of the FPO and thus the FPO, which will be through the offer-for-sale route, will be launched soon.

NMDC to appoint world-class consultant for proper guidance on pricing mechanism

NMDC to appoint world-class consultant for proper guidance on pricing mechanismMining giant NMDC has announced that it would appoint a world-class consultant to get proper guidance on its pricing mechanism.

Addressing shareholders at the company's 54th AGM (annual general meeting) in Hyderabad on Thursday, NMDC chairman & managing director CS Verma revealed that the company had already issued a tender seeking expression of interest from global consultants to offer their services on iron ore pricing mechanism.

SAIL posts lower than expected results in third quarter

SAIL posts lower than expected results in third quarterIndia's largest steel producer, Steel Authority of India Ltd has posted a lower than expected results in the third quarter of 2011.

The company's net profit fell 43 per cent in quarterly profit in the quarter mainly due to rising coal costs and foreign exchange looses. The profit fell to the level of Rs 632 crore in the quarter.




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