Public Sector Undertakings

Government receives dividend tranches from PSUs, NPCIL, UCIL, HAL

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

Govt plans to shut down 2 plants of Hindustan Insecticides; cites losses

The government on Friday said it is planning to shut down the operation of state-owned Hindustan Insecticides Ltd's (HIL) two plants located in Kerala and Punjab due to losses incurred for the last several years. Minister of State for Chemicals and Fertilisers Bhagwanth Khuba, in his written reply to the Lok Sabha, said: "Yes Sir", when asked if the government proposes to close down the operation of Kerala and Punjab plants of HIL. He also said that the government is aware of the reports that the salaries of employees have not been disbursed for the last five months. To address this, the government has proposed the closure of the two units of HIL i.e Bathinda in Punjab and Udyogamandal in Kerala, he said. "Accordingly, a proposal seeking funds from the government has been made to cater to meet the expenditure arising on account of VRS/VSS and payment of balance dues of the employees of both units proposed for closure," he added. Khuba further said the two plants in Kerala and Punj

Power Grid Corporation board approves investments of about Rs 4,071 crore

State-owned Power Grid Corporation's board has approved investments of nearly Rs 4,071 crore for two transmission projects in the country. "Board of Directors of POWERGRID in their meeting held on 6th March 2023, have accorded investment approvals," a BSE filing said. The board has approved the transmission system for Kurnool Wind Energy Zone/ Solar Energy Zone (AP) -- Part-A & Part-B -- at an estimated cost of Rs 3,546.94 crore, scheduled to be commissioned by November 2024. It has also approved the Eastern Region Expansion Scheme-XXIX (ERES-XXIX) at an estimated cost of Rs 524.04 crore, scheduled to be commissioned by November 2025.

Public sector firms' share in total market cap at a three-year high

BSE PSU index gained 41% and 23% in 2021 and 2022, respectively

ONGC, Indian Oil, Power Grid, SAIL top profit making PSUs in FY22

The net profit of operating public sector enterprises jumped 50.87% to Rs 2.49 trn during 2021-22, with ONGC, Indian Oil Corp, Power Grid, NTPC and SAIL emerging as the top five performers

Ensure enough opportunities for Tamils in govt offices, PSUs: TN CM Stalin

Tamil Nadu Chief Minister M K Stalin has once again taken up with the Centre, his earlier demand for priority in appointment of native Tamils in Central Government Offices and its Public Sector Undertakings in the state. Writing to Prime Minister Narendra Modi, Stalin said a memorandum had been submitted to the former last year, following that up with a letter flagging the matter to ensure adequate opportunities to the native Tamils. "I am sure, you would agree that adequate opportunities to people from all regions alone can ensure better service delivery besides regional representation and fulfill their aspiration to join in union government and Central Public Sector Undertakings at various levels. As you are aware, citizen centric administration, the sine qua non of good governance, requires free interface with public and only persons with familiarity in local language and culture fulfill it," he said. Further, Tamil Nadu has more human resources with comparatively higher knowledg

BS BFSI Insight Summit: Who's who of PSBs to take part in panel discussion

From State Bank of India Chairman Dinesh Kumar Khara to Sanjiv Chadha, MD & CEO, Bank of Baroda, here is the list of panelists from public sector banks of India at BSFI Insight Summit

Defence, aerospace exports treble to Rs 12,815 cr in 5 years: Govt

Foreign procurement in defence rises to Rs 50,061 cr

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

Rally in PSU banks to sustain on higher margins, loan surge: Morgan Stanley

Brokerage raises price targets for non-SBI state-owned banks

Two Indian companies to pick up over 26% but less than 51% stake in ISMC

Next Orbit director refuses to divulge names though talks were reportedly on with HCL, Reliance Industries

Silos are yet to be broken to expeditiously deliver projects and policies

Lack of coordination between depts and ministries within the govt on the one hand, and between the Centre and the states on the other, has proved to be a hurdle

Public sector banks plan to establish verticals for big data, analytics

PSBs will also launch digital-only goods, services in the upcoming year with minimal data entry requirements, automated checks, and underwriting for consumers

Telecom may be first strategic sector to be picked up for privatisation

According to the centre's PSE policy announced in 2021, the government aims to maintain 'bare minimum' presence in strategic sectors that include energy, telecom, power, banks, and minerals.

PSU units' privatisation to require extensive due diligence, clearance

As per the process for privatisation of PSU units, minority sale and stake sale in JVs shared by the DIPAM, boards will recommend mode of transaction to their administrative department

Finance Minister Sitharaman nudges India Inc to clear unpaid dues of MSMEs

Nirmala Sitharaman said it is encouraging that larger companies are including amounts owed to MSMEs in annual statements

J&K Bank to increase exposure to corporate borrowers, PSUs: MD Prakash

In a Q&A, Baldev Prakash said the lender will also target Mumbai, Bengaluru, Delhi, Pune and Mohali through tie-ups, and hold campaigns for retail asset/liability products in order to improve its CASA

Railways eyes Rs 30,000-crore revenue with new land licensing fee policy

Sources also indicated that the current policy was causing a lot of leasable Railways land to go idle, notwithstanding the potential for terminal operations

Divestment drive: Govt looks to privatise PSUs in fertiliser sector

According to the PSE policy, 2021, the government will look at leaving non-strategic sectors, such as fertiliser, steel and tourism, by privatising or closing PSUs

Govt seeks to improve disclosures by PSUs, asks for monthly data on capex

New details such as CSR, gender-wise reporting of contractual workers, unused land, and profit share in joint venture companies have also been added in the list of disclosures