Page 5 - Psus

Parliamentary panel asks govt to take steps to revive loss-making PSUs

The ministry should also give details of the steps taken and plans conceived to revive and strengthen the CPSEs within its administrative ambit to the panel

Small businesses file applications worth over Rs 35,000 cr in payables

Over 137,000 complaints made, govt portal shows state govt dues are among the highest

With policy ammunition, defence stocks continue to yield strong returns

Most sector PSUs ended FY23 with strong order books

OMCs get Rs 800 crore to set up over 7,000 fast-charging stations

The installation is expected to be completed by March 2024

EVMs, VVPATS designed, manufactured indigenously by 2 PSUs: Government

Electronic voting machines (EVMs) and paper trail machines are designed and manufactured indigenously by two public sector undertakings (PSUs), the government said in Lok Sabha on Friday. Responding to a question on whether the government has purchased EVMs and EVM technology from foreign countries, Law Minister Kiren Rijiju said according to the Election Commission, EVMs and voter verifiable paper audit trail machines (VVPATs) are designed and manufactured indigenously by Bharat Electronic Limited (BEL), a PSU under the Defence Ministry, and the Electronic Corporation of India Limited (ECIL), another PSU under the Department of Atomic Energy. Paper roll of VVPATs is procured by states and Union Territories from BEL and ECIL, he said in his written reply.

SVB crisis: IBA panel meet next week may discuss strategy to back start-ups

Banks need a multi-pronged strategy to boost presence in start-up ecosystem following SVB's collapse, say experts

PSU outperformance over Nifty can continue; investors fear price downtrend

Though there are some inherent downsides, upsides include low valuations, high dividend yield

Dealing with next-gen listings

Investors are starting to realise that new-age companies are a completely different animal

Disinvestment proceeds of Rs 4.07 trn realised in last 9 years: Eco Survey

About Rs 4.07 lakh crore has been realised as disinvestment proceeds in the past nine years, and post-2014 the government is engaging with the private sector as a co-partner in the development, the Economic Survey said on Tuesday. In the current fiscal, out of the budgeted amount of Rs 65,000 crore, 48 per cent or over Rs 31,000 crore has been collected as of January 18, 2023. The survey said privatisation of Air India re-ignited the privatisation drive, and evidence shows that labour productivity and the overall efficiency of the PSUs disinvested during 1990-2015 has improved. "During FY15 to FY23 (as of 18 January 2023), an amount of about Rs 4.07 lakh crore has been realised as proceeds from disinvestment through 154 transactions using various modes/instruments," said the Survey tabled in Parliament by Finance Minister Nirmala Sitharaman. Of this, Rs 3.02 lakh crore was realised from minority stake sale and Rs 69,412 crore was realised from strategic disinvestment transactions i

PSU companies expemted from minimum public float rules, says govt

The government has exempted public sector entities from the Minimum Public Shareholding (MPS) norm which mandates at least 25 per cent public float for all listed companies. The exemption would apply on these entities regardless of the government's direct or indirect holding. The exemption from MPS norm will be valid for a "specified period" even if there is a change in ownership or control after the exemption is granted, a Gazette notification said. The notification exempts "any listed entity in which the Central Government or State Government or public sector company, either individually or in any combination with other, hold directly or indirectly, majority of the shares or voting rights or control of such listed entity, from any or all of the provisions of this rule (MPS norms)." The Securities Contracts (Regulation) Amendment Rules, 2022 was notified by the government on January 2. Following the notification, IDBI Bank will be exempt from MPS even after partial stake sale by

Dipam seeks to make dividends from PSUs part of disinvestment target

The government is half way against the disinvestment target of Rs 65,000 crore for the current fiscal year

CIL can pursue overseas acquisition of coal mines after study: Par Panel

With state-owned CIL not buying out of any coal blocks abroad at present, a Parliamentary panel on Thursday said the PSU can still pursue overseas acquisition of mines after detailed study and analysis of the blocks, especially low ash coking coal. The committee is of the view that this will not only reduce import of fossil-fuel but also open new avenues of mining abroad. "Considering the existing coal resources in the country, the committee would like the coal ministry/CIL to explore acquisition of coal blocks abroad. They would like to be apprised of any developments in this regard," the Standing Committee on Coal, Mines and Steel in its report tabled in Parliament said. Coal India Ltd (CIL) had acquired prospecting licences for coal blocks in Mozambique in 2009 through its wholly-owned international subsidiary Coal India Africana Limitada. However, after carrying out detailed exploration, the geological report and mineability report, it was found that the quality of coal in the

Tata in talks to buy majority stake in UTI AMC from 4 PSU finance entities

If the deal goes through, Tata AMC and UTI AMC's combined entity could become the fourth-largest asset manager in India

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

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

Select segments within PSU theme could outperform amid economic uptick

Public-sector banks, defence stocks could do well; PSUs exposed to commodities are at risk

Kerala govt enhances retirement age of state PSU employees to 60

The Kerala government has enhanced the retirement age of employees of most of the state PSUs uniformly to 60, drawing sharp criticism from a left-wing youth organisation. The order was issued on Saturday based on the recommendations of an expert committee, which conducted a comprehensive study on the formulation of a common framework for pay/wage structure of PSUs in the state except Kerala State Electricity Board, Kerala State Road Transport Corporation and Kerala Water Authority. The expert committee had recommended that the retirement age of employees of all state PSUs shall be enhanced uniformly to 60 as in the case of central PSUs. However, this will not be applicable to those employees who have already retired in accordance with the prevailing rules. The state leadership of the All India Youth Federation (AIYF), the youth wing of the Communist Party of India (CPI), protested against the government's decision to enhance the retirement age to 60, terming it as a move against th

Shriram Group likely to submit EoI for privatisation of IDBI Bank

Entry of Shriram Group as a bidder, could set the stage for at least a two-way contest for IDBI Bank with Prem Watsa's Fairfax Financial also believed to be a contender

Government identifying PSUs with land bank but little business for selloff

The government is identifying public sector organisations with little to no business activities that are sitting on land banks to privatise or sell off

Sebi tightens disclosure norms for IPOs; to relax rules for open offers

Markets regulator Sebi on Friday approved a slew of changes to various regulations, including tightening the disclosure requirements for initial public offerings. At its board meeting here, Sebi also decided to relax the pricing rules for open offers with respect to disinvestment of public sector undertakings. For IPOs, the regulator cleared the proposal mandating the issuers to disclose the offer price based on past transactions and fund raising activities. Also, companies contemplating IPOs will soon have the option to make confidential pre-filing of offer documents. Besides, the watchdog's board gave its nod to bring buying and selling of mutual fund units under the ambit of insider trading rules.

Beat sectoral returns by 5 percentage points annually, PSUs told

PSUs have also been told that the dividend distributed by them would also be considered to evaluate their performance on this parameter