Govt plans to sell up to 10% stake in Mishra Dhatu via offer for sale



Govt plans to sell up to 10% stake in Mishra Dhatu via offer for sale


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Govt plans to sell up to 10% stake in Mishra Dhatu via offer for sale

The Government of India is planning to offload up to 10 per cent stake in speciality alloy maker Mishra Dhatu Nigam (MIDHANI) in the current fiscal, according to an official. The state-owned entity is likely to garner good response from foreign investors as the government has brought defence sector under automatic route for 74 per cent foreign direct investment (FDI).

“We are looking at up to 10 per cent stake dilution via offer for sale,” news agency PTI d the aforementioned official as saying.  The company has not made any announcement in this regard.  

The defence PSU firm was listed on domestic bourses in April 2018 and the government had raised Rs 438 crore by selling 26 per cent stake through initial public offer (IPO).  

Headquartered in Hyderabad, MIDHANI is one

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Govt plans 10% stake sale in MIDHANI via offer for sale

The government is planning to sell up to 10% stake in defence PSU Mishra Dhatu Nigam Ltd (MIDHANI) in the current fiscal ending March, an official said. 

The company got listed on stock exchanges in April 2018 and the government had raised 438 crore by selling 26% stake through IPO.

The official said that with the opening of space sector to foreign investment and bringing defence sector under automatic route for 74% foreign direct investment (FDI), MIDHANI shares are expected to attract investors. 

MIDHANI manufactures special steel and super alloys for use in defence, nuclear and space sectors. 

“We are looking at up to 10% stake dilution via offer for sale,” the official said. 

Shares of MIDHANI closed at 193.50 apiece on the BSE on Friday. 

At the current market price, the government can raise about 360 crore by selling 10% stake in the company.

The official

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Modi govt plans 10% stake sale in MIDHANI via offer for sale

The government is planning to sell up to 10 per cent stake in defence PSU Mishra Dhatu Nigam Ltd (MIDHANI) in the current fiscal ending March, an official said. 

The company got listed on stock exchanges in April 2018 and the government had raised Rs 438 crore by selling 26 per cent stake through IPO.

The official said that with the opening of space sector to foreign investment and bringing defence sector under automatic route for 74 per cent foreign direct investment (FDI), MIDHANI shares are expected to attract investors. 

MIDHANI manufactures special steel and super alloys for use in defence, nuclear and space sectors. 

“We are looking at up to 10 per cent stake dilution via offer for sale,” the official said. 

Shares of MIDHANI closed at Rs 193.50 apiece on the BSE on Friday. 

At the current market price, the government can raise about Rs 360 crore by

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Not For Sale! Israeli Govt Relieved Items of The Islamic Art Museum Will Not be Auctioned

A controversial sale of items from the Museum for Islamic Art in Jerusalem has been temporarily postponed, according to the museum’s primary donor, amid pressure from Israeli government bodies and President Reuven Rivlin.

The museum, which said it was facing financial hardship even before the coronavirus pandemic forced it to temporarily close its doors, had hoped to raise around $9.8 million by selling over 200 items through Sotheby’s auction house in London. Most of those items were not on public display, said the museum’s director, Nadim Sheiban.

The museum was founded in the 1960s by British-Jewish philanthropist Vera Bryce Salomons to showcase Islamic and Arab culture.

It also holds a large and valuable collection of watches, amassed by the founder’s father David Lionel Salomons, 60 of which the museum also planned to sell.

The museum said the proceeds would be used to keep it afloat and to fund educational programs.

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Govt firm develops 1,400 housing units for workers

Okechukwu Nnodim, Abuja

The Abuja Property Development Company, a government-owned developer, is developing 1,400 mass housing projects for workers in the Federal Capital Territory as well as other interested persons.

It announced in a statement issued in Abuja that about 400 of the 1,400 houses had been completed, while others were at various stages of completion.

The Managing Director, APDC, Lawal Magaji, stated that with the take-off of the development of phases two and three of the APDC Capital Estate along the Kubwa Expressway, Abuja, the firm was now offering its homes for sale at different stages of completion to make them affordable to buyers.

He said the estate was made up of flats, terrace houses and detached duplexes, all fully equipped with modern amenities.

Magaji said, “Close to 1,400 homes of different types are expected at the estate and about 400 homes have already been fully completed, while others

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Imo govt orders contractor to refund N1.4bn mobilisation fee, bans levies in schools

The Imo State government has banned the collection of levies in primary and secondary schools in the state.

The government warned that any school head, principal or headmaster, caught in the act will be summarily dealt with.

It also ordered the contractor handling the Naze/Nekede/Ihiagwa/Obinze road to refund the mobilization fee of N1.4 billion advanced to his company without further delay.

The Governor, Hope Uzodinma gave these warnings during a meeting of the state executive council held on Thursday in Owerri, the state capital.

He had directed the Attorney General and Commissioner for Justice, Barr. C.O.C Akaolisa to prevail on the bank that guaranteed mobilization fee to the contractor to refund the money or be forced to do so.

The Governor disclosed that his administration will re-award the contract for the road to a more competent firm as soon as the rains are over.

He equally reiterated the government’s ban

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Modi Govt’ Implements Historic Law Allowing Any Person to Buy Land in Jammu, Kashmir and Ladakh



Sputnik News

11:50 GMT 27.10.2020

India’s BJP-led central government has been introducing major changes to the administration of Jammu and Kashmir, prompting criticism from regional political parties, since the annulment of the region’s special status in August 2019 that provided semi-autonomy to the erstwhile state.

Days after the political parties of Jammu and Kashmir signed the Gupkar declaration aimed to restore the semi-autonomous status of the Union Territory; the New Delhi government notified them of the implementation of new land laws.

The new order, called Union Territory of Jammu and Kashmir Reorganisation (Adaptation of Central Laws) Third Order, 2020 will allow people from outside Jammu and Kashmir, and Ladakh to buy land there. Until now, the permanent residents of the region held the sole right to acquire the land.

However, agricultural land won’t be available for sale.

“We want, like other parts of India, that there is development in the

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US New Home Sales Slow In September: Govt

The torrid pace of US new home sales slowed in September much more than expected, but remains 32.1 percent above the rate seen in 2019, according to government data released Monday.

The housing market has been a bright spot in the pandemic-ravaged US economy with buyers enticed by record low borrowing rates, but a shortage of supply has sent prices steadily higher.

New home sales dipped 3.5 percent compared to August with just 959,000 units sold, seasonally adjusted. That was well below the consensus forecast among economists, who had projected well over a million, the Commerce Department reported.

Sales in August were revised lower to 994,000 from just over a million originally reported. However, the data are volatile and subject to changes month to month.

New home sales fell 3.5 percent in September, the first monthly slowdown since April amid the Covid-19 pandemic New home sales fell 3.5 percent in September, the first monthly slowdown since April amid the Covid-19 pandemic Photo: AFP / Eric BARADAT

The average

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QC gov’t lifts stop order vs condo construction in Barangay Marilag

QC gov’t lifts stop order vs condo construction in Barangay Marilag

The local government of Quezon City has lifted its cease and desist order against the construction of a 40-storey condominium in Barangay Marilag, which initially faced complaints for making noise even during nighttime.

Quezon City officials lifted on October 20 the stop order against DMCI after the latter submitted an affidavit of undertaking.

In its sworn statement, DMCI, the project developer of 40-storey Infina Towers, said that it will “eliminate/lessen/mitigate the construction noise/sound produced by any equipment or any construction activity.”

It added that their construction activities “shall not go beyond 7 p.m. and shall not start prior to 7 a.m. except for jobs that do not cause noise/sound such as painting and/or finishing works and the unloading to the ground of construction materials

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