Cpses

Parliamentary panel asks govt to take steps to revive loss-making PSUs

The ministry should also give details of the steps taken and plans conceived to revive and strengthen the CPSEs within its administrative ambit to the panel

Govt falls short of disinvestment target, posts stronger dividend receipts

The dividend receipts from CPSEs grew more than 37 per cent to Rs 58,988 crore against the Revised Estimates (RE) target of Rs 43,000 crore

Procurement via GeM crosses target of Rs 2 trillion on last day of FY23

On March 30, GeM completed five million transactions in a single financial year for the first time ever

CPSEs spent 85% of capex target by February, says finance ministry

By comparison, CPSEs had exhausted only 79.28% of the Rs 5.95-trillion target during the same period in the previous fiscal year

CPSE dividend crosses Rs 50,000 crore for second consecutive year

During the current fiscal year (FY23) so far, Rs 50,279 crore has come as dividends from CPSEs

Capital expenditure by CPSEs touches 76% of Rs 6.6-trillion target

The capex spending of these public sector undertakings is being reviewed by the Prime Minister's Office regularly

Govt streamlines rules for settlement of disputes among CPSEs

In 2018, the DPE had issued an office memorandum, wounding up the Permanent Machinery of Arbitration (PMA) for settling such disputes

Disinvestment proceeds of Rs 4.07 trn realised in last 9 years: Eco Survey

About Rs 4.07 lakh crore has been realised as disinvestment proceeds in the past nine years, and post-2014 the government is engaging with the private sector as a co-partner in the development, the Economic Survey said on Tuesday. In the current fiscal, out of the budgeted amount of Rs 65,000 crore, 48 per cent or over Rs 31,000 crore has been collected as of January 18, 2023. The survey said privatisation of Air India re-ignited the privatisation drive, and evidence shows that labour productivity and the overall efficiency of the PSUs disinvested during 1990-2015 has improved. "During FY15 to FY23 (as of 18 January 2023), an amount of about Rs 4.07 lakh crore has been realised as proceeds from disinvestment through 154 transactions using various modes/instruments," said the Survey tabled in Parliament by Finance Minister Nirmala Sitharaman. Of this, Rs 3.02 lakh crore was realised from minority stake sale and Rs 69,412 crore was realised from strategic disinvestment transactions i

FinMin to stick to privatisation of already announced CPSEs next fiscal

The Finance Ministry will move ahead with the already-announced and planned privatisation of state-owned companies in the next fiscal, and the chances of the new addition to that list of CPSEs in the Budget for 2023-24 is unlikely, sources said. The disinvestment target outlined in the Budget for the next fiscal is likely to be a scaled-down and realistic one, as the budgeted PSU sell-off target is going to be missed for the fourth year in a row this fiscal. In the current fiscal, the government had budgeted to collect Rs 65,000 crore from disinvestment. However, so far, it has realised only Rs 31,106 crore by selling minority stakes in public sector companies. After tasting success in privatising loss-making Air India in 2021, the progress of PSU sell-off has not been very impressive over the past year, and experts say that with the general election around the corner in 2024, no major disinvestment announcement is expected in this Budget either. "The plan is to move ahead with the

Stocks to Watch: Adani Wilmar, CPSEs, Sigachi, Bank of Baroda, PC Jeweller

Stocks to Watch: GNFC and Indiabulls Housing Finance are the only stocks in F&O ban period on Wednesday.

Small, mid CPSEs likely to be on Centre's FY24 disinvestment list

Government officials hinted that efforts were being taken to conclude stake sale of Shipping Corp and BEML by March

Power Finance Corporation surges 5% on heavy volumes; hits over 5-year high

In past six months, the stock has zoomed 51 per cent, as against 8 per cent gain in the S&P BSE Sensex.

82% listed CPSEs don't have mandated independent directors: CAG report

Independent directors ensure integrity of financial information, report unethical behaviour

Contractual workforce in CPSEs crosses pre-pandemic level in FY22

But headcount of regular employees has continued to decline in FY22

Four CPSEs extended Rs 2,609 cr worth undue benefits to execs: CAG report

The CAG recommended that these CPSEs should discontinue reimbursement of "running and maintenance" expenses of vehicles as it violates DPE guidelines

Capex by CPSEs accelerates to 60% of annual target during Apr-Nov period

CPSEs are likely to achieve their target as they tend to rush up their spending in March quarter

FinMin allows PSUs to invest in debt schemes of all mutual funds

The communication by DIPAM said that only Maharatna, Navratna and Miniratna CPSEs are permitted to invest in debt-based schemes of mutual funds

Govt allows CPSEs to park surplus funds in debt schemes of pvt sector MFs

The finance ministry on Wednesday permitted CPSEs to invest their surplus funds in debt-based schemes of private sector mutual funds, a move that will help them diversify their investment portfolio. So far, Central Public Sector Enterprises (CPSEs) were allowed to invest their surplus fund in Sebi-regulated public sector mutual funds. The Department of Investment and Public Asset Management (DIPAM) has issued a modified guidelines on investment of surplus funds by CPSEs wherein it said that "Maharatna, Navratna and Miniratna CPSEs are permitted to invest in debt-based schemes of Sebi regulated mutual funds". DIPAM said the guidelines have been modified in view of the representations received from some CPSEs, mutual funds, and private sector banks suggesting changes in certain provisions keeping in view liberalisation of policies and introduction of new monetary instruments for trade in short-term funds. These proposals have been examined by the inter-ministerial Committee for ...

Capex by CPSEs accelerates to 53% of annual target during Apr-Oct period

During the same period a year ago, CPSEs were able to exhaust only 44.78 per cent of the full year target

BSNL tops list of CPSEs with highest pending dues to small firms

The micro, small, and medium enterprises (MSME) ministry has created a portal where these firms can file applications online regarding delayed payments