PSUs Performance

The government on Friday received Rs 736 crore and Rs 102 crore from public sector undertakings (PSUs) Nuclear Power Corporation of India Limited (NPCIL) and Uranium Corporation of India Limited

Navratna Defence PSU Bharat Electronics Ltd (BEL) has signed an MoU with Goa Shipyard Limited (GSL) for co-operation in addressing global market opportunities for supply of state-of-the-art products such as autonomous boats, and other systems / solutions based on Artificial Intelligence for Naval platforms. The pact was inked on the sidelines of the ongoing Aero India 2023, Asia's largest air show, at Air Force Station Yelahanka here. BEL CMD Bhanu Prakash Srivastava, and GSL CMD Brajesh Kumar Upadhyay exchanged the MoU documents, a BEL statement said.

State-owned engineering firm BHEL on Friday posted a 56.5 per cent rise in its consolidated net profit to Rs 42.28 crore in the December quarter mainly on the back of higher revenues. The consolidated net profit of the firm was Rs 27.02 crore in the year-ago period, according to a regulatory filing. Total income rose to Rs 5,353.94 crore in the October-December quarter from Rs 5,219.89 crore in the same period a year ago.

The Joint Forum of Trade Unions and Associations (JFTU) in 4 PSUs general insurers reiterated their demand for discussions on restructuring after full report is submitted by the consultancy firm EY

PSUs have played a well-defined role in India's progress over 74 years. Some have delivered sterling outcomes that the return-seeking, capital-poor private sector would have been unable to do

The new public sector enterprises policy envisages that the strategic sectors have limited number of players restricting it to maximum four public sector enterprises of the holding nature

The suggestion is part of the Competitiveness Model developed by CII Research comprising six key elements to enable CPSEs to compete successfully in the global marketplace

This move is different from privatisation as the Centre will continue to hold a majority stake in these companies and they will still be classified as public sector enterprises

"The government is proposing/planning to bring down its equity holding below 51 percent in select Central public sector enterprises."

BSNL, Air India and MTNL incurred 55.66 per cent of the total losses suffered by the top ten loss-making CPSEs in 2016-17.