PSU Disinvestment: MSTC transfers 100 pc stake in FSNL to Konoike Transport Co

MSTC, a public sector undertaking (PSU), has transferred its 100% stake in Ferro Scrap Nigam Limited (FSNL) to Konoike Transport Co., marking a significant shift in the company’s business strategy. The move is part of the ongoing disinvestment process in Indian PSUs to streamline operations and reduce the government’s stake in non-core businesses. By divesting FSNL, MSTC aims to focus on its core business areas and improve operational efficiency. The transaction with Konoike Transport Co. highlights the growing trend of privatization and consolidation in the Indian public sector, aimed at increasing competitiveness and profitability.