Cabinet may consider NLC stake sale today

The government may consider on Friday selling 5 per cent stake in Neyveli Lignite Corporation.

The government may consider on Friday selling 5 per cent stake in Neyveli Lignite Corporation. The sale is expected to fetch the government about Rs 600 crore.

The department of disinvestment has moved a fresh proposal for sale of over 7.5 crore shares,or five per cent of the paid up equity in in the Southern miner out of governments shareholding of 93.56 per cent.

The stake sale through the offer for sale route was deferred last month by the cabinet committee on economic affairs. Tamil Nadu chief minister Jayalalithaa had written last month to Prime Minister Manmohan Singh,contending that divestment in the company would lead to labour unrest and disruption of power supply from Neyveli. She had suggested delisting of the firm or amending the Securities Contracts (Regulation) Rules,1957,to make a special exemption for Neyveli Lignite from the minimum public shareholding rule. The DoD had said stake sale was the only way to make the company compliant with the Sebi norm.

The theft prompted an immediate shutdown of the Louvre museum in Paris. (Pixabay)

Louvre Museum in Paris shut after thieves armed with chainsaws loot Napoleon-era jewels

World5 min ago

Thieves armed with chainsaws stole nine pieces of jewelry, including items belonging to Napoleon and Empress Joséphine, from the Louvre Museum. The museum was immediately shut down and a police investigation is underway. French Culture Minister Rachida Dati confirmed the incident and the Louvre remains closed. The robbers used a freight elevator and broke through glass displays.

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