Public Sector Firms

Govt plans to sell 3.5% stake in Hindustan Aeronautics through OFS

The government owns 75 per cent in the public sector aerospace and defence business

State-run firms to remain exempt from public shareholding norms: Govt

The exemptions from the MPS norm will be valid for a "specified period" even if there is a change in ownership or control after the exemption is granted, the notification said

A different kind of quiet quitting

Policy loopholes are encouraging many promoters to exit their companies stealthily, raising the question: Should promoters be in control after pledging their shares?

SpaceX could spin off Starlink as public company by 2025: Report

Tech billionaire Elon Musk could spin Starlink off from SpaceX and carry out an initial public offering by 2025, media reports said

Regulators must apply same rules for public and private cos: Deepak Parekh

Finance industry veteran Deepak Parekh on Wednesday said regulators are lenient on state-run companies, and there is a need to have a parity between public and private enterprises. He said the leniency is seen in various mandates like adhering to having required number of independent directors or women directors on board, and added that there is a "little less accountability" in the public sector. "Regulators are a bit lenient on public sector companies," Parekh said, speaking at the launch of the book "The Undercover Monk" here. Parekh, who is the chairman of mortgage major HDFC which is presently seeking regulatory nods for merging with subsidiary HDFC Bank, added, "same rules should apply on governance and disclosure norms". Parekh said sometimes, government nominee director's unavailability leads to cancellation of a meeting and recounted an experience while serving a state-run company's board. Parekh said after reaching New Delhi, he was informed that the meeting was postpone

Why are public sector companies unable to attract talent for higher posts

It is not just that state-owned company leadership are paid much less than what their smaller competitors are paid but their performance is not linked to rewards

Public sector firms can't have industrial growth from taxation: RC Bhargava

The government should not be running businesses as public sector companies are inefficient and do not generate enough resources to fund their own growth, according to Maruti Suzuki India Chairman R C Bhargava. Public sector companies need support all the time to grow and need funds from the government for capital investments, he told PTI in an interview. "I have no doubt that government should not be in business. No way," he said when asked if governments should be in the business of running enterprises on the basis of his experience of witnessing the transformation of the then government-owned Maruti Udyog Ltd to Maruti Suzuki India Ltd, majority owned by Japan's Suzuki Motor Corporation. He further said, "The fact of the matter is that companies run by the government are not efficient. They don't have productivity. They don't generate profit. They don't generate resources. They don't grow. They need government support all the time to grow." There are not many "public sector ...

Fitch enhances ratings of 13 Indian firms to 'moderate downgrade risk'

These companies are either govt-related entities (GREs) with ratings linked to the sovereign rating or pvt entities whose ratings would be downgraded if India's Country Ceiling was lowered to 'BB+'

LIC shares decline over 3% to hit record low after Q4 net slips 18%

Shares of LIC on Tuesday declined over 3 per cent after the company posted a 17 per cent decline in consolidated net profit for the fourth quarter ended in March 2022. The stock declined 3.05 per cent to settle at Rs 811.50 on the BSE. During the day, it tanked 3.23 per cent to Rs 810. At the NSE, it fell by 3.21 per cent to end at Rs 810.85. In volume terms, 2.22 lakh shares were traded at the BSE and over 43.73 lakh shares at the NSE during the day. Insurance behemoth LIC on Monday posted a 17 per cent decline in consolidated net profit to Rs 2,409 crore for the fourth quarter ended March 2022. The insurer had earned a profit of Rs 2,917 crore in the same quarter a year ago. This is the first-ever quarterly result of LIC after being listed on bourses earlier this month. The total income of the insurer during the March quarter increased to Rs 2,12,230.41 crore, from Rs 1,90,098 crore in the same period of the previous fiscal, LIC said in a regulatory filing. LIC's income from

State-run general insurers may get capital infusion of Rs 3,000-5,000 cr

The capital infusion would help improve the financial health of the general insurance firms -- National Insurance Company Limited, Oriental Insurance Company Limited and United India Insurance Company

AGR dues: TDSAT says public, pvt sector firms cannot be treated differently

The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) also said that an exemption can be given to the PSUs only if the same is extended to private sector players

Rs 1.75 trillion disinvestment target on track, says CEA Subramanian

The target of mopping up Rs 1.75 trillion from disinvestments of some of public sector companies, including LIC and BPCL during current fiscal, is on track and groundwork is being prepared for goal

Engineering firm BHEL reports a loss of Rs 217 crore for Dec quarter

The state-run firm was hurt by lower revenues

Consolidation in public sector oil firms may be back on table in FY22

The government may again revive the plan for further consolidation in the public sector oil companies

Stock-specific approach to investing in PSUs will yield returns: Experts

Attractive valuations not enough to be positive on the entire sector, say experts

Govt may give 'divested' PSU status to BPCL to save LPG customers' subsidy

BPCL has around 73 million LPG consumers, while Indian Oil has 134 million and HPCL around 78 million

FM's economic vaccine: Final tranche is high on reforms, low on stimulus

State borrowing limit raised to 5%, but conditions apply

Credit Suisse Wealth Management sees mid-teen growth in Nifty earnings

Within the markets segments, they do not forecast a major underperformance by the mid-caps in 2020 given the valuation comfort

Modi govt's engagement with public sector is harmful for its fiscal health

The government's method of dealing with BSNL, MTNL and FCI presents a problematic aspect of its public sector engagement

The Acting Chairman

The Coal India case shows why the recruitment process in PSUs needs overhauling