Public Sector Enterprises

PSUs will need to modify their contracts to comply with judgment

The Government has revised the CSR guidelines for CPSEs by including PM's Internship Scheme as the common theme for the current fiscal, an official said. Currently, Central Public Sector Enterprises (CPSEs) follow a theme-based approach in utilising their Corporate Social Responsibility (CSR) funds. CPSEs have to spend 60 per cent of their CSR funds on the theme set for a particular year. "We have added PM's Internship Scheme to 'Health and Nutrition' as the common theme for CSR activities by the CPSEs for 2024-25. CPSEs will spend 60 per cent of their CSR funds towards 'health and nutrition' and PM's Internship Scheme this fiscal," an official told PTI. The Ministry of Corporate Affairs, earlier this month, started enrolling companies as well as interns under the Prime Minister's Internship Scheme. Over five years, the scheme envisages providing internships to 1 crore youth. Under the pilot project, which is estimated to cost around Rs 800 crore, the 12-month long internship will

The government is working to amend its 2016 guidelines with regard to dividend payment, bonus issues and share buyback by CPSEs, officials said. The finance ministry had in May 2016, issued a comprehensive guidelines on 'Capital Restructuring of Central Public Sector Enterprises (CPSEs)' in 2016 for efficient management of government investment in CPSEs. "With the CPSEs now more strong in terms of balance sheet and having improved on their market capitalisation, it is now time for a relook of the capital restructuring guidelines," an official told PTI. The amended guidelines are expected to be issued by the finance ministry this month, another official said. As per the capital restructuring guidelines issued, CPSEs that do not have plans to deploy their capital optimally for business purposes should have a professional look at the surplus funds available to them. As per the guidelines issued by the Department of Investment and Public Asset Management (DIPAM) in May 2016, every CPS

The government has extended the deadline for meeting minimum public shareholding norms for central public sector enterprises and public sector financial institutions till August 2026. The central government in the public interest provided exemption up to August 1, 2026, to increase public shareholding to at least 25 per cent in CPSEs and public sector banks and financial institutions, according to an office memorandum issued by the Ministry of Finance. Central Public Sector Enterprises (CPSEs) with public shareholding below 25 per cent and which could not increase their public shareholding to at least 25 per cent within the timeline stipulated in Rule 19A of Securities Contracts (Regulation) Rules 1957 will now get time for another two years. As per the earlier order, the two-year exemption was to end on August 1, 2024. The Securities and Exchange Board of India is requested to take further necessary action and bring this to the notice of the stock exchanges concerned, it said. Ou

PSU stocks to buy: Analysts caution that premium valuation of PSU stocks may lead to limited upside from here

The gains in public sector enterprises like Power Grid and Coal India also boosted sentiment

Rs 3.6 trn shaved off from Adani Group mcap

LIC, while seeing a marginal decline to Rs 3.39 trillion, still accounts for a lion's share of 69% of total benefits paid

Atul Sobti, director general of SCOPE, said that RTI is a citizen-centric act facilitating transparency, ethics, accountability, and empowering citizens

NHAI and Railways drive robust growth in capex

A slowdown in fresh investments has resulted in a steady decline in the contribution of the corporate sector to overall capex and its share in GPD

Coal India, Hindustan Aeronautics and GAIL (India) have chart structures suggesting further upside of up to 20%

Prime Minister Narendra Modi on Wednesday hailed the Stand Up India campaign on the completion of its seven years and pointed out that the initiative had played a role in empowering the SC/ST communities and women. Stand up India Scheme was launched on April 5, 2016, with a focus on economic empowerment and job creation. The scheme aims to encourage all bank branches in extending loans to borrowers from SC, ST and women in setting up their own greenfield enterprises. "Today we mark #7YearsofStandUpIndia and acknowledge the role this initiative has played in empowering the SC/ ST communities and ensuring women empowerment. It has also boosted the spirit of enterprise our people are blessed with," Modi said in a tweet. In another tweet on National Maritime Day, the prime minister said, "We in India have been blessed with a rich maritime heritage and we are very proud of that." "On National Maritime Day, we recall all those who contributed to India's strides in the maritime world and

Instead of public sector enterprises making capex decisions, they have declared dividends in the last few years. The capex decisions have therefore been abrogated to itself by the Centre

The government has so far garnered Rs 36,835 crore, which is 92 per cent of the Budget estimate of Rs 40,000 crore

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

Exemption for a 'specified period' may help IDBI Bank stake sale

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

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

State-owned CIL on Tuesday said its coal production increased by 17.4 per cent to 351.9 million tonnes (MT) in the April-October period of the ongoing fiscal. The company's coal output in the corresponding period of last fiscal was 299.6 MT, Coal India Ltd (CIL) said in a filing to BSE. The coal production by the maharatna firm also increased to 52.9 MT last month, over 49.8 MT of coal production in the corresponding month of previous fiscal. The public sector enterprise also said its coal offtake during April-October went up to 385.7 MT from 364.4 MT in the year-ago period. However, in October the offtake dropped to 53.7 MT from 56.5 MT in the same month of last fiscal. The coal major did not give the reason for the drop in offtake. Coal India accounts for over 80 per cent of domestic coal output. CIL will achieve 1 billion tonnes of coal production target by 2025-26 as against the earlier timeline of 2023-24 in view of the COVID-19 pandemic, coal minister Pralhad Joshi had earl