Page 2 - Public Sector Undertakings

From downturn to dominance: PSUs reclaim 17.3% India's market glory

An analysis by Elara Capital indicates that the PSU sector performs well during election years

Optimal time to book profits in PSU funds: Will the rally continue?

High valuations, limited earnings upgrade prospects warrant caution

Unleashing govt's procurement power

As a consumer, the government can play a crucial role in unlocking the potential for innovation in Indian companies

The NDA approach to PSUs

The Modi govt's equity contribution to public sector units has risen even as their capacity to generate resources has taken a hit

Investors can lock into current high yields with target maturity funds

The medium- to high-maturity variety of these funds can also offer capital gains if interest rates fall

PM Narendra Modi to inaugurate infra boost at Cochin Shipyard on Wednesday

New dry dock and International Ship Repair Facility for CSL

At Rs 3.79 trn, PSU capex hits 52% of budget target by September end

Capital expenditure by central public sector enterprises touched about 52 per cent of the Budget target at Rs 3.79 lakh crore in the first half of current fiscal, the finance ministry said on Wednesday. This is higher than the capex by CPSEs in the April-September period of last fiscal. In the first half of previous fiscal, the figure stood at Rs 2.85 lakh crore or 43 per cent of Budget estimates for 2022-23 fiscal. "Capital Expenditure #CAPEX targets by Central Public Sector Enterprises #CPSEs on track with 51.71% of target achieved till September 2023," the finance ministry said in a post on X. Against estimated expenditure of Rs 7.33 lakh crore for full 2023-24, Rs 3.79 lakh crore (approx.) achieved i.e. about 51.71 per cent as on 30th September, 2023, it said. The full year capex by CPSEs was estimated at Rs 6.62 lakh crore in 2022-23 fiscal.

In a first, Tata Power Renewable Energy secures 200 MW FDRE project

Tata Power Renewable Energy Ltd (TPREL) has bagged a 200 MW firm and dispatchable renewable energy (FDRE) project from SJVN Ltd. FDRE provides round-the-clock power supply and supports the discoms in meeting renewable purchase obligation (RPO) and energy storage obligation (ESO), Tata Power said in a regulatory filing. The company said its subsidiary, "Tata Power Renewable Energy Limited (TPREL), has received a Letter of Award (LOA) for developing the 200 MW FDRE project with SJVN Ltd (SJVN)," the company said. The company, however, did not disclose the financial details of the order. SJVN is a public sector undertaking (PSU) involved in hydroelectric and renewable power generation and transmission and has been designated as the Renewable Energy Implementing Agency (REIA) by the Ministry of New & Renewable Energy (MNRE) for achieving the nation's target of achieving 500 GW by 2030. This is the first FDRE power tender won by TPREL. It (tender) also includes a greenshoe option, ...

Finance ministry asks PSU banks to take measures to bolster cybersecurity

The Finance Ministry has asked state-owned banks to review systems and processes related to their digital operation in view of the recent UCO Bank incident. According to sources, the banks have been advised to check their cybersecurity robustness and take measures to strengthen them. Banks should keep a tight vigil, and there should be readiness for future cyber threats, sources said. The Finance Ministry and RBI have been sensitising banks on this aspect at regular intervals amid the growing digitisation in the financial sector. Last week, Kolkata-based public sector lender UCO Bank reported erroneous credit of Rs 820 crore to account holders of the bank via Immediate Payment Service (IMPS). During November 10-13, the bank had observed, due to technical issues in IMPS, certain transaction(s) initiated by holders of other banks have resulted in credit to the account holders in UCO Bank without actual receipt of money from these banks. IMPS is a real-time interbank electronic fund

Investors need to exercise prudence after PSU funds' robust surge

Only high-risk investors should take limited exposure to these funds, provided they have a long horizon

Canara Bank reports profit surge of 75% to Rs 3,535 cr in June quarter

State-owned Canara Bank on Monday reported a 75 per cent rise in net profit at Rs 3,535 crore in the June quarter, helped by decline in bad loans and growth in interest income. The Bengaluru-based lender had posted a net profit of Rs 2,022 crore in the year-ago period. Total income in the first quarter of the current fiscal rose to Rs 29,828 crore, from Rs 23,352 crore in the same period a year ago, Canara Bank said in a regulatory filing. Interest earned by the bank improved to Rs 25,004 crore over Rs 18,177 crore in June 2022. The bank's asset quality showed improvement as gross non-performing assets (NPAs) declined to 5.15 per cent of gross advances at the end of the June quarter, from 6.98 per cent a year ago. Similarly, net NPAs or bad loans declined to 1.57 per cent, as against 2.48 per cent in the year-ago period. As a result, provision for bad loans came down to Rs 2,418 crore, as against Rs 2,673 crore allocated in the same quarter a year ago. Capital Adequacy Ratio of

Power Grid stock may be fully pricing in near-term growth prospects

The company is a steady performer with good dividend yield (payout was Rs 14.75 in FY23, same as FY22)

An incomplete restructuring

It is time all non-strategic PSUs were transferred to the department of public enterprises

HAL's prospects are brighter than ever; board announces stock split

But stock appears to have fully priced in the near-term gains

Govt panel may draft list of small public sector banks for privatisation

The panel is likely to have officials from the Department of Investment and Public Asset Management, the Reserve Bank of India, and the NITI Aayog

UCO Bank Q4 net profit zooms 86% at Rs 581.24 cr on improvement in margins

Board nod for Rs 2,000 cr equity offering

Gujarat govt's new PSU policy mandates bonus shares, dividends, buybacks

The market took the development positively, and the shares of most public sector companies in Gujarat rallied 8 to 15 per cent on April 26

Government receives dividend tranches from PSUs, NPCIL, UCIL, HAL

The government on Friday received Rs 736 crore and Rs 102 crore from public sector undertakings (PSUs) Nuclear Power Corporation of India Limited (NPCIL) and Uranium Corporation of India Limited

Govt plans to shut down 2 plants of Hindustan Insecticides; cites losses

The government on Friday said it is planning to shut down the operation of state-owned Hindustan Insecticides Ltd's (HIL) two plants located in Kerala and Punjab due to losses incurred for the last several years. Minister of State for Chemicals and Fertilisers Bhagwanth Khuba, in his written reply to the Lok Sabha, said: "Yes Sir", when asked if the government proposes to close down the operation of Kerala and Punjab plants of HIL. He also said that the government is aware of the reports that the salaries of employees have not been disbursed for the last five months. To address this, the government has proposed the closure of the two units of HIL i.e Bathinda in Punjab and Udyogamandal in Kerala, he said. "Accordingly, a proposal seeking funds from the government has been made to cater to meet the expenditure arising on account of VRS/VSS and payment of balance dues of the employees of both units proposed for closure," he added. Khuba further said the two plants in Kerala and Punj

Power Grid Corporation board approves investments of about Rs 4,071 crore

State-owned Power Grid Corporation's board has approved investments of nearly Rs 4,071 crore for two transmission projects in the country. "Board of Directors of POWERGRID in their meeting held on 6th March 2023, have accorded investment approvals," a BSE filing said. The board has approved the transmission system for Kurnool Wind Energy Zone/ Solar Energy Zone (AP) -- Part-A & Part-B -- at an estimated cost of Rs 3,546.94 crore, scheduled to be commissioned by November 2024. It has also approved the Eastern Region Expansion Scheme-XXIX (ERES-XXIX) at an estimated cost of Rs 524.04 crore, scheduled to be commissioned by November 2025.