For the first time in five years, the profits of India’s state-owned companies dropped, by about 20 percent in 2015. According to the government data 77 public-sector undertakings (PSUs) reported losses and contribution to the excheque
Most of the central public sector undertakings (PSUs) have failed to comply with recommendations pertaining to caste-based reservation such as keeping reservation rosters and filling of backlog vacancies meant for SCs and OBCs. The
The cabinet is expected to clear the plan to cut majority stake in around 20 state-run enterprises on Wednesday. These also include several profit-making companies, signalling a restart of equity sale in public sector undertakings (PSUs) aft
National carrier Air India, which is making operational profit now, is looking to rejig debt worth Rs 10,000 crore under the scheme for sustainable restructuring of bad assets floated by the Reserve Bank of India (RBI). &nbs
Oil and Natural Gas Corporation Ltd (ONGC), country’s largest oil and gas exploration and production company, beat India’s second largest software exporter Infosys Ltd to become the fifth most valuable company in India by market
The NITI Aayog, besides identifying PSUs for strategic sales and monitoring the closure of loss making firms, will now also give approvals to the state-run entities to set up financial joint ventures, a power which rested with company boards
The government is finding it extremely difficult to appoint women on boards of companies, said minister of state for commerce and industry Nirmala Sitharaman. Addressing a gathering of women entrepreneurs at Federation of Indian Ch
Minister of Urban Development M.Venkaiah Naidu on Thursday asked the management of NBCC to further expand and diversify its business profile by forging partnerships with state governments and other agencies. He welcomed NBCC’s
The Cabinet Committee on Economic Affairs has given its approval to an acquisition by ONGC Videsh Limited (OVL) for 11 percent stake in JSC Vankorneft from M/s Rosneft Oil Company (Rosneft), the National Oil Company (NOC) of Russian Federation (Ru
Market regulator Sebi has agreed to the government’s proposal to give employees of central public sector undertakings (PSUs) a larger role to play in the disinvestment process. With a long list of central PSUs lined up for di
The government has raised Rs 21,000 crore through stake sales and buybacks in April-September 2016-17. This is the highest-ever first half disinvestment revenue for any year, raising expectations for the rest of the financial year.
The government is looking to sell some of its stake in NMDC, NALCO, BHEL through the offer for sale (OFS) route. According to a news report in moneycontrol.com, the centre may divest through an OFS in companies that bought back government sh
The government has given its nod for closure of sick public sector company Hindustan Cables that has stopped output since 2003. It has also approved strategic sale of Allahabad-based Bharat Pumps and Compressors. It will give an outlay of mo
Narendra Kumar Nada, director (technical) NMDC has been recommended for the post of the chairman and managing director (CMD) by Public Enterprises Selection Board (PESB). The recommendation has been made after the government
Communications minister Manoj Sinha has asked BSNL to give a roadmap and timeline for increasing its market share to 15 percent from the present level of 10.4 percent. Addressing a gathering of senior BSNL officials at its he
The government has decided to shut down 15 loss-making public sector units (PSUs), of which at least five have been cleared by the cabinet. By taking this step, it is opting to go against internal advice of reviving three of them. NITI Aayog
The union cabinet on Wednesday approved a proposal to extend subsidy support of Rs. 1,250 crore to Bharat Sanchar Nigam Limited (BSNL) from Universal Service Obligation Fund (USOF). It is compensation for deficit incurred by BSNL i
The cabinet on Wednesday approved capital grant to GAIL to develop gas infrastructure in eastern India. The Cabinet Committee on Economic Affairs, chaired by prime minister Narendra Modi, has approved viability gap funding /
The cabinet on Wednesday approved the conversion of government of India loan into equity and waiver of interest in respect of Richardson & Cruddas (1972) Ltd. In a meeting chaired by prime minister Narendra Modi, the cabi
A meeting of the Cabinet Committee on Economic Affairs, chaired by prime minister Narendra Modi, has given its approval for initiating the process of winding up of Hindustan Diamond Company Private Limited (HDCPL), a 50:50 joint venture of t
