Bid to buy stakes in Monnet Ispat: SAIL and JSW compete
DSIJ Intelligence / 01 Mar 2017
Sponge iron and steel producer, Monnet Ispat and Energy, in a move to minimise debts, is in talks with the Steel Authority of India (SAIL) for forming a consortium, aiming to secure bid for copper and gold reserves in Afghanistan.
Sponge iron and steel producer, Monnet Ispat and Energy, in a move to minimise debts, is in talks with the Steel Authority of India (SAIL) for forming a consortium, aiming to secure bid for copper and gold reserves in Afghanistan.
Afghanistan has invited bidders for gold and copper reserves from across the country by March 9, 2017. Although in an early stage of discussion, Monnet Ispat is expected to take a call on the tie-up in a few days.
While talks about JSW Steel to buy stakes in Monnet Ispat and Energy has also resulted in optimistic investor sentiments. Thus, resulting in a 10 per cent hike in the stock performance of the sponge iron and steel producer.
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