The company further announced appointment of Anil Agarwal as additional non-executive director designated as chairman of the company's board with effect from Saturday
Agarwal said the share price has moved up 40-50 per cent since the time the government announced its plan to sell stake in November last year
Besides spending on building infrastructure, the government should focus on exploiting natural resources the country has and look at stake sale in most PSUs, said the mining baron
Highlighting the business opportunities in the natural resources sector, Agarwal said that Indian industry should also explore in this sector
The Centre had termed the move of opening up of commercial coal mining for the private sector as the most ambitious coal sector reform
The successful bid for debt-ridden Electrosteel marks this controversial entrepreneur's first foray into the steel business anywhere in the world