Abhishek Securities

The Centre is planning to bring down its stake in MSTC, the company’s Director (Finance) AK Basu said here on Thursday. The Centre’s stake in the Miniratna PSU currently stands at over 89 per cent. The remaining 10-odd per cent is held by various industry associations. According to Basu, the plan is to opt for an “offer-for-sale” and not an IPO to bring down the stake to 65 per cent. “The government’s stake post-dilution will stand at 65 per cent,” he told reporters on the sidelines of the foundation stone-laying ceremony of its corporate building in the satellite township of New Town on the north eastern fringes of the city. He further maintained that the company was also exploring options to divest stake in its subsidiary Ferro Scrap Nigam. Having reported a turnover of ₹51,000 crore last fiscal, it is eyeing 10-20 per cent growth this fiscal. “We should cross ₹60,000 crore at least,” Basu said. JV with Mahindra Meanwhile, BB Singh, CMD, MSTC, pointed out that the comp...

Mahindra Intertrade Ltd., a part of the Mahindra Partners Division of the $17.8-billion Mahindra Group, and MSTC Ltd., a Government of India enterprise, have come together to jointly set up a first-of-its-kind greenfield auto shredding and recycling capability in the country. Mahindra Intertrade owns and operates a network of steel service centres across the automotive, power and home appliances verticals. Mahindra Partners is the $900 million private equity division of the Mahindra Group. The proposed collaborative venture will establish an integrated automotive recycling capability for end-of-life vehicles. And, it will undertake a host of activities — collection, compaction, transportation, de-pollution, dismantling, shredding, recycling, and disposal. Sandip Ginodia , Director   A LTIUS INVESTECH PVT LTD | ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlist...

Mahindra Intertrade Ltd., apart of the USD 16.9 billion Mahindra Group, has signed a Memorandum of Understanding (MoU) with MSTC Ltd. (a Government of India enterprise formerly known as Metal Scrap Trading Corporation Limited). The MoU will see the companies undertake a joint initiative to set up India’s first auto shredding facility. The MoU was signed under the aegis of the Honorable Minister of Steel and Mines, Shri Narendra Singh Tomarji. Sandip Ginodia , Director   ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com

Seven steel majors including a central PSU have participated in the e-auction process to bag Odisha’s Ghorhaburhani-Sagasahi iron ore block with a total reserve of around 100 million tonne, officials said on Thursday. The auction platform is provided by MSTC Ltd while SBI Capital Markets Ltd (SBI Caps), a fully owned subsidiary of State Bank of India, is the transaction adviser for conducting mineral e-auction. The transaction adviser will assist the state government in fixing floor price for the auction. The state government has already formed a committee under the development commissioner for the smooth conduct of mines auction in the state. 

Ms. Bharthi S Sihag, IAS, Addl. Secretary & Financial Advisor, Ministry of Steel inaugurated MSTC Stall at India International Trade Fair (IITF) 2015 on 14th Nov 2015 at Pragati Maiden, New Delhi in presence of Shri. S K Tripathi CMD & Ms. Urvilla Khati, Joint Secretary, Ministry of Steel Sandip Ginodia , Director ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com

: "There are only two real ways to get ahead today, sell liquor or drink it." What American actor WC Fields probably said in the early nineties still holds true — at least for state-owned trading company MSTC Ltd. From auctioning scrap to selling liquor dealerships, the lesser known PSU has come a long way. In a first-of-its-kind move, MSTC has been approached by the Odisha government to e-auction the state's liquor licences. So far, the state has been holding manual auctions for the dealerships. Thanks to the coal auctions, the miniratna company under the steel ministry is in demand, with none other than power and coal minister Piyush Goyal and Andhra Pradesh chief minister Chandrababu Naidu among its admirers. "The coal minister, who is a chartered accountant himself, and tech savvy Chandrababu Naidu are very impressed with MSTC's work," said a company official. Other states including Rajasthan, Madhya Pradesh and Andhra Pradesh have ap...

State-owned MSTC Ltd was hopeful of recovering Rs 600 crore unrealised from overseas buyers for gold jewellery sales in 2008-09.  "We are making progress on the recovery process. We are winning some of the cases and most of the verdicts are in our favour," MSTC Chairman and Managing Director S K Tripathi said here today.  Speaking on the sidelines of a session of the  Bharat  Chamber of Commerce he said that though the legal process was time consuming recovery was expected to take place.  A parliamentary committee in its report had said that MSTC sold Rs 638 crore in gold jewellery to 47 foreign buyers through six  Mumbai -based sellers in 2008-09.  Of this, Rs 599 crore remained outstanding from 46 foreign buyers in  UAE , Kuwait and  Singapore  who had cited economic slowdown as a cause of failure to repay, the panel noted. Sandip Ginodia , Director ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of expe...

In a bid to dispose of its iron ore stockpile, the Goa Government has decided to engage State-owned metal scrap trading firm MSTC Ltd for the e-auction of 3.9 million tonnes (mt) unaccounted and confiscated iron ore. This would be the first sale of iron ore in Goa since October 2012 after the State Government and the Supreme Court banned mining and the sale of the mineral. Formal communication MSTC Chairman and Managing Director SK Tripathi confirmed to  Business Line  on Friday that the State Government formally conveyed the decision to the company last week. ‘Illegally extracted’ ore The State Government confiscated 3.9 mt of unclaimed or unrecorded ore stock at different places in the past few months and placed the details before the court, said sources. This “illegally extracted” iron ore quantity would be put up for e-auction first. The apex court in October last year had also allowed e-auction of 11.48 mt of ore inventories with clear ownership. This auct...

 A government official has been sentenced to five years in jail by a Delhi court for accepting a bribe of Rs two lakhs from a scrap metal firm to favour it in allotment of lots during e-auction of metal waste.  Special CBI Judge Sanjeev Jain awarded the jail term to 57-year-old Samir Kumar Ghosh, who was Senior Manager with MSTC Limited here, after holding him guilty under the various provisions of Prevention of Corruption Act.  Sandip Ginodia , Director ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com

Odisha may miss April deadline to conduct iron ore e-auction on behalf of miners of the state as the  steel and mines ministry is undecided over the issue. The online auction conducting agency MSTC Ltd said it is ready with all necessary infrastructure and is awaiting the government nod. "As of now we have all necessary infrastructure ready to conduct the e-auction via our Kolkata office. We are awaiting government order to go ahead,” said an official of MSTC. In November last year , the state government decided to sell entire iron ore and manganese ore  produced in the state through online auction route by April 2013 by employing state-run miner Odisha Mining Corporation (OMC) as the canalizing agent in order to address the issue of raw material supply problems for domestic steel units. It has even constituted a committee comprising of cabinet ministers and headed by finance minister  to chalk out the modalities of the trading. The committee, whose te...

MSTC declares bonus issue : Steel Minister,Beni Prasad Verma reviewed the performance of MSTC Limited wherein secretary,steel DRS Chaudhary was also present.SK Tripathi,CMD,MSTC Limited,made an elaborate presentation of the present status,future plans and challenges of MSTC. Tripathi said that five years ago the volume of business of the company was 7,700 crore and this has increased to 21,751 crore in 2011-12.MSTC has scripted continuous growth in profit in the last three years.In 2011-12 profit before tax was 176 crore.MSTC has a unique distinction of having 58 lakh per employee profit which is an all time record for the service sector in India. MSTC has declared issue of bonus share at the ratio of 3:1.It may be recalled that MSTC also issued bonus share @1:1 in the year 1993.MSTC has handed over a dividend cheque to the minister for 2011-12 @ 1077 per cent. Sandip Ginodia A BHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of expeirence...

  12:21 AM CBI Arrests Former MSTC Officials in Rs. 464 cr Scam : The CBI has arrested former top officials of Metal and Scrap Trading Corporation (MSTC) in an alleged gold export scam worth Rs 464 crore in the public sector undertaking by accepting forged documents from exporters, CBI spokesperson said today. The agency arrested the then Chairman and Managing Director of MSTC Malay Sengupta and Chief General Manager Tapas Basu, CGM from Kolkata, and an insurance consultant S K Sinha from Delhi for their alleged involvement in the case. MSTC TO OFFER E SERVICES  :   MstC LTD , a mini-ratna PSU under Union ministry of steel, has evinced interest to offer its e-auction and e-procurement services for departments and agencies of the Odisha government. MSTC, which has been offering e-services for a wide gamut of products since 2002, has made a presentation to top state officials. The Central PSU held that e-auction will organize and expand market fo...