#hiveoff

NMDC’s steel unit hive-off likely to unlock value but execution counts

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NMDC Ltd’s stock was all fired up on Friday soaring nearly 12%, though its June quarter results were hit hard by the covid-19 lockdown. The management’s announcement to hive off its upcoming steel plant in Nagarnar, Chhattisgarh, into another unit, could alleviate the pressures on cash flows of the company. But further upside may be capped.

NMDC plans to demerge the steel unit and…

SES opposes DHFL insurance hive-off plan

[ad_1] Governance advisory Stakeholders’ Empowerment Services (SES) has advised shareholders of Dewan Housing Finance (DHFL) to vote against its management’s seeking approval for a related party transaction. It says the disclosures are not enough. The company says the deal has all the necessary approvals. In a postal ballot that closes on Friday, DHFL has moved a resolution that will enable it to…