Public Sector Firms

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 S&P BSE PSU index has gained over 90 per cent in the last one year, rising much higher than the S&P BSE Sensex that has surged nearly 19 per cent during this period, show ACE Equity data

Mazagon Dock and SJVN are seen upgraded from 'smallcaps' to 'midcaps'

Public sector telecommunications company ITI Limited said on Monday that it has developed its own branded laptop and micro PC with international standards and launched them in the market. The products have been branded as 'SMAASH', said the Bengaluru-based central PSU, which functions under the Ministry of Communication. ITI said in a press release that the products have already been distributed in the market, and that the company has won many tenders competing against MNC brands like Acer, HP, Dell and Lenovo. The two flagship products -- laptop and micro PC -- have been designed in association with Intel Corporation with which an MOU had been signed for design and manufacturing, it said. "ITI Limited's Micro PC -- a GREEN solution product -- does the computation like any other PC with very less carbon footprint and it considerably reduces e-waste," the statement said. "It consumes less power as compared to conventional PCs, is of small size, has no moving parts like a fan, and ha

The meeting was chaired by RailTel's Chairman and Managing Director (CMD) Sanjai Kumar, who presented the annual report of the company for the financial year 2022-23

The latest data shows that at the end of FY23, the market share of these firms cumulatively declined to 32.37 per cent -- a drop of 803 bps

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

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

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

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

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

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

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 ...

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+'

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

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

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

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

The state-run firm was hurt by lower revenues