Page 16 - Psus

Selling less while raising more

Clearer commercial focus and tighter financial discipline may yield a steady steam of dividends

Top 10 biz headlines: RBI helps govt on fiscal deficit, IndiGo AGM & more

From RBI's surplus transfer helping the govt contain fiscal deficit at 3% of GDP in 2019-20 to India's leading PSUs facing financial headwinds, here are the top business headlines for Tuesday

India's leading PSUs stare at weak balance sheet and rising debt

There has also been a sharp dip in cash reserves available with PSUs

No protection to PSU employees from criminal persecution, rules SC

Apex court asks trial court magistrate to try and finish trial against BSNL employees within one year

The structure of asset sale

A vital question for the government, however, is whether it wants to pursue both equity disinvestment in PSUs and asset sale, simultaneously, and whether one company can figure in both programmes

Govt needs to sell stake of over Rs 250 billion as deadline draws near

Sebi had given an extension last year for PSUs to meet 25% minimum public shareholding rule

Modi govt exploring opportunities for more mergers in energy: Dipam secy

FM Sitharaman said strategic disinvestment of select central PSUs would remain priority for this government

Corporate governance of PSUs: A case for change

There is relative lack of accountability and transparency compared to the mandate for companies in the private sector

Squeezing PSUs

Demanding second interim dividend is bad optics

NPAs of public sector banks decline by over Rs 230 bn in March 2018: FinMin

Various initiatives taken by the government have yielded results, with the bad loans of public sector banks declining by over Rs 23,000 crore from a peak of Rs 9.62 lakh crore in March 2018, said a senior finance ministry official. At the same time, public sector banks (PSBs) have also made a record in recovery of Rs 60,726 crore in the first half of the current financial year, which is more than double the amount recovered in the corresponding period last year. "Gross non-performing assets (NPAs) of PSBs have started declining after peaking in March 2018, registering a decline of Rs 23,860 crore in the first half of the current financial year," Financial Service Secretary Rajiv Kumar said. According to the latest finance ministry data, non-NPA accounts overdue by 31 to 90 days (Special Mention Accounts 1 & 2) of PSBs have declined by 61 per cent over five successive quarters - from Rs. 2.25 lakh crore as of June 2017 to Rs 0.87 lakh crore in September 2018. "This has ...

Cabinet approves plan to list 6 state-owned firms, dilute stake in one

The government has set a disinvestment target of Rs 800 billion this financial year, but in the first half it managed to mop up a little over 10%

Govt likely to make additional capital infusion in state-owned banks: Garg

According to sources, the government is considering additional capital infusion of up to Rs 300-400 billion in PSBs as they have been unable to raise required funds from the markets

PSUs cut dividend 2nd time in a decade as cash reserves continue to dwindle

The combined dividend pay-out by state-owned firms, excluding banks, down 9.3% in 2017-18; Combined cash reserves at all-time

Government okays revised guidelines on time-bound closure of sick PSUs

The decision was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi here

Over 8 PSUs to enter capital markets next year: DIPAM secy Neeraj Gupta

Through RITES IPO, the government plans to sell 12% stake to raise an estimated Rs 6 billion

What type of enforcement is suitable for PSUs?

Serving chief executives and directors of a PSU are debarred from taking up non-official positions on other boards

Little headroom for PSUs to invest

Non-oil PSUs have seen a sharp jump in their indebtedness in past three years while capacity utilisation remains low

Govt may sell up to 60% stake in producing oilfields of ONGC, OIL

India is the world's third-largest crude importer, buying 80 per cent of its supplies from overseas

Brief case: PSUs waste public money on litigation, says SC

A weekly selection of key court orders

Public float norms: Govt gives itself a reprieve

Market experts said the government should spread out the disinvestment in the 24 PSUs