Page 5 - Public Sector Undertakings

PSU presence in Rs 1-trillion club shrinks in 2020; index declines 18%

The companies that exited the trillion club are IOCL, NTPC, BPCL, and Coal India

Planning for non-core asset sale, govt dividend now mandatory for PSUs

Listed public sector firms will have to maintain their m-cap at a certain level

Best of BS Opinion: Cinema beyond biases, Tejashwi Yadav's promise & more

Here's a selection of Business Standard opinion pieces for the day

Five of 12 public sector bank stocks trade near face value of equity share

Five out of 12 public sector banks are trading near the face value of their equity shares on bourses regardless of a rally in stock benchmark indices, according to an analysis. Shares of state-run Indian Overseas Bank are even trading below the face value of Rs 10 per share. The stock closed at Rs 9.27 on Friday at BSE when the benchmark index Sensex closed at 40,509. The Chennai-based bank tapped the market first on September 2000 offloading part of the government's stake at par or at the face value of Rs 10. Remaining four public sector banks of Bank of Maharashtra, UCO Bank, Punjab & Sind Bank and Central Bank of India are trading near the face value of Rs 10 per share. Shares of Punjab & Sind Bank closed at Rs 10.81 per unit, Bank of Maharashtra's at 11.29 per unit on Friday. Mumbai-based Central Bank of India is slightly better positioned with closing price of Rs 12.45 per share followed by Kolkata-based UCO Bank at 12.14 per unit. One of the reasons for low interest of ..

State-run firms biggest wealth destroyers in last six yeas, say MF veterans

The government has been pressing citizens to pay taxes and be compliant, but they have very little to show regarding improved efficiencies in the companies they themselves own, the managers added

As BPCL braces for privatisation, workers worry about their future

Older workers are headed for the VRS exit in larger-than-expected numbers even as unrest stirs over unrevised wage settlements

FM Nirmala Sitharaman asks seven CPSEs to spend 50% capex in H1

This is because the government looks to maintain the pace of capital and infrastructure projects in a bid to soften the economic blow from the Covid-19 pandemic

23 companies attend Railways' meeting for operating private trains

A total of 23 companies, including some PSUs shown interest in operating private trains in the country as they participated in the second pre-application conference for Public-Private Partnership (PPP) in passenger trains project organised by the Ministry of Railways on Wednesday.The participants included Alstom Transport India Limited (Ltd), BEML, Bharat Forge, BHEL, Bombardier Transportation India, CAF India Private Ltd, Gateway Rail, GMR Infrastructure Ltd, Hind Rectifiers Limited, I-Board India Pvt Ltd, IRCTC Limited, ISQ Asia Infrastructure Investments Private Ltd, Jasan Infra Private Ltd, JKB Infrastructure Private Ltd, L & T Infrastructure Development Projects Ltd, Medha, Megha Engineering and Infrastructures Ltd, National Investment and Infrastructure Fund Limited, PSGG Technologies Pvt Ltd, RK Associates & Hoteliers Private Ltd, Siemens Limited, Sterlite Power and Titagarh Wagons Limited.In the meeting, which was held virtually, Railway Board Members along with NITI

AAI, HAL, OIL among firms on PSU panel's list for examination in FY21

The Committee on Public Undertakings met on July 29 and selected 11 subjects for a comprehensive examination

Govt to go ahead with divestment of 23 PSUs cleared by Cabinet: Sitharaman

Talking about disinvestment plans, the minister said the government wants to sell stakein public sector companies at a time when it fetches the right price

Spending 50% of capex target by September: An uphill task for PSUs

Union Finance Minister Nirmala Sitharaman had earlier this week asked public sector companies to undertake half their capex for the current year by September.

Govt plans to raise Rs 20,000 crore by selling stakes in CIL, IDBI Bank

In case of Coal India, if valuations are not attractive, company will buy back shares from the govt

Hindustan Antibiotics seeks redemption amid rising anti-China sentiments

The firm is charting a turnaround plan by beginning the manufacturing of key bulk drugs that the government has identified under a production-linked incentive (PLI) scheme

BHEL reports Rs 1,532 cr loss in Q4 on lower revenues and deferred tax

The company had posted a consolidated net profit of Rs 680.77 crore in the quarter ended March 2019, it said in a BSE filing.

From the left and right: Protests planned today against govt policies

The Bharatiya Mazdoor Sangh (BMS), the trade union arm of the RSS, said it will hold protests across the country to oppose the Centre's plan to privatize public sector undertakings

6 PSUs now 'fallen angels' after India's sovereign rating cut: Moody's

These six include Indian Oil Corporation, Hindustan Petroleum Corporation, Oil India, Petronet LNG, Bharat Petroleum Corporation and Oil and Natural Gas Corporation, the ratings agency said

'No doubt' on GDP contraction in Q1: CEA Krishnamurthy Subramanian

Subramanian also said that the Centre had gone beyond its means to support states, was keeping its options open regarding deficit monetisation, and that the new privatisation policy would be out soon

Govt extends Bharat Petroleum privatisation bid deadline to July 31

Any private company having a net worth of $ 10 billion is eligible for bidding and consortium of not more than four firms will be allowed to bid

Sebi grants temporary relief to companies from public float norms

Sources say companies had approached the regulator seeking relaxation citing unfavorable market conditions through investment bankers and industry bodies

'Sick' pharma PSU offers to step in to reduce China drug dependence

HAL can make up to 50 per cent of bulk drugs if it is provided financial assistance to upgrade its infrastructure, the company said