KIOCL

The government is considering merging pellet maker KIOCL with iron ore major NMDC. Union Steel Minister HD Kumaraswamy said that KIOCL is in critical condition. "The process is on to consider merging KIOCL and NMDC. KIOCL has also reported losses," he said on the sidelines of a press meet here to announce a revival package of Rs 11,440 crore for Rashtriya Ispat Nigam Ltd (RINL). The minister said the situation has occurred due to non-cooperation of the state (Karnataka) government. KIOCL Ltd, under the Ministry of Steel, operates a 3.5 million tonne per annum (MTPA) iron-oxide pellet plant and a blast furnace unit to manufacture 2.16 lakh tonne per annum pig iron at Mangaluru, Karnataka. NMDC is also an entity operating under the Steel Ministry. It caters to India's 20 per cent of iron ore demand.

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Mining company NMDC aims to export iron ore pellets from KIOCL post the merger

NMDC continues to meet the country's iron ore demands, achieving a turnover of Rs 21,294 crore in financial year 2023-24

Stocks to Watch on January 10, 2024: The company reported 15 per cent YoY decline in Q3 consolidated revenue to Rs 231.7 crore. Net profit slumped 59 per cent to Rs 34.5 crore

State-owned KIOCL on Thursday requested stock exchanges BSE, NSE and MSE to waive about Rs 17 lakh fine imposed on the company for non-compliance with norms related to appointment of independent directors. The fine levied by exchanges has no impact on the financial, operation or other activities of the company, KIOCL said in a BSE filing. The non-compliance with norms on the composition of the board was neither due to any negligence/default by the company nor within the control of KIOCL's management, and continuous efforts were made to meet the compliance requirements. "NSE, BSE and Metropolitan Stock Exchange of India (MSE) have levied fine of Rs 5,42,800 each (incl GST) for the non-compliance with regulation-17(1) i.e., half of the board was not independent, for the quarter ended September 30, 2023," KIOCL said. It further said the company is a government-owned entity where President of India has the power to appoint directors (including independent director) on the board. All .

Shares of STC India, ITDC, and KIOCL from the S&P BSE CPSE index were locked at 20 per cent upper circuit, hitting multi-year highs

The Central government has received Rs 197 crore, Rs 48 crore, and Rs 10 crore from Uranium Corporation of India Ltd, KIOCL and Shipping Corporation of India (SCI), respectively, as dividend tranches

KIOCL, a public sector undertaking, is mainly into iron ore mining activities.

The board will meet on Monday, October 19, 2020 to consider the proposal for buy back of fully paid-up equity shares of the company

The company's exports are driven mainly by demand from China, which consumes nearly 50 per cent of iron ore produced in the world

The stock moved higher by 11% to Rs 195 on the BSE after the state-owned company announced that its board will meet on Tuesday, September 18, 2018 to consider share buyback proposal.

Allocation of a captive mine has provided respite to the state-owned entity, operating a 3.5-million tonne per annum pellet plant in Mangaluru

Idcol has been engaged in the production of pig iron, cast iron spun pipes, and ferro alloys since the 1960s