PSU

Govt looking for new joint MD to steer AI revival

 The government is seeking to hire a new joint managing director to steer Air India Ltd’s turnaround and debt restructuring plan.   According to a news report published in the Mint, the appointments committee

ONGC to acquire additional 11 percent stake in Russia’s Vankorneft

 State-run Oil and Natural Gas Corp. Ltd (ONGC) has signed definitive agreements with Russia’s national oil company Rosneft PJSC to acquire an additional 11 percent stake in its unit, JSC. It has a licence to produce hydrocarbons from t

Strategic disinvestment of Scooters India on cards

 Heavy industries ministry is likely to seek cabinet approval for "strategic disinvestment" of loss making automaker Scooters India Limited. The strategic disinvestment means sale of substantial portion of government’s shareho

MoU targets set for 234 CPSEs

 The department of public enterprises has completed the MoU or the incentive-based target setting exercise for central public sector enterprises CPSEs for the current fiscal. The government has set targets for 234 India’s top state-run

IRCTC to cater to 23 more trains

 Indian railways has given catering responsibility of 23 more trains to IRCTC as part of its efforts to bring the management of food supply services on trains under the national transporter’s PSU. With this, the number of trains on whic

Air India’s focus on fill more, fly more has helped improve efficiency: Lohani

 Ashwani Lohani, chairman and managing director of Air India Ltd, believes in a hands-on approach at work as he tries to turn around the money-losing national carrier. In an interview to Mint, Lohani said a pro-employee policy and a

HPCL wants ONGC to cut stake in MRPL

 State-run Hindustan Petroleum Corp. Ltd (HPCL) wants Oil and Natural Gas Corp. Ltd (ONGC) to divest a part of its stake in the Mangalore Refineries and Petrochemicals Ltd (MRPL) so that it can meet minimum public shareholding norms.

EIL offers equity to employees at discounted rate

 State-owned Engineers India Ltd (EIL) will sell part of the government stake to its eligible employees at a discounted price of Rs 187.29 per unit. The move, which is a part of the disinvestment process, will fetch about Rs 31.5 crore to the

DPE creating surplus land databank of PSUs

The department of public enterprises (DPE) is creating a databank of surplus land holdings of central public sector units (PSUs) across the country for auction.   The ministry of urban development is setting up a web

Centre seeks applicants for PESB chief’s post

 The ministry of personnel on Friday dashed off a ‘wireless message’ to chief secretaries of all states and union territories seeking applications from suitable candidates for the post of chairperson of Public Enterprises Selectio

Air India: The afterlife of the Maharaja

The state-owned ailing flag carrier is in news again. Air India, which has been under losses for over a decade now, has made operating profit estimated at a little over Rs 100 crore in the financial year 2015-16. During his independence day speech

IOC to offer bonus share

 State-owned Indian Oil Corporation (IOC) has announced bonus shares as its first-quarter net profit jumped 25 percent to Rs 8,268.98 crore. The board of directors has approved the bonus share in the ratio of 1:1. It means the compa

BSNL keen to bring back customers to its landline

 State owned telecom company BSNL is working to bring back customers back to its landline operations. For this, it is betting big on its recently launched plan 49. Promoted under the tag line `Experience LL 49 Plan`, a new customer opting for

ONGC hires consultants to evaluate GSPC KG block reserves

 State-owned ONGC has hired US-based Ryder Scott Petroleum Consultants to assess natural gas reserves in Gujarat State Petroleum Corp`s (GSPC) KG (Deendayal) block before deciding to buy a stake in it.  Ryder Scott has been ask

Air India chief empanelled as secretary

Air India chairman and managing director Ashwani Lohani has been empanelled to hold secretary-level posts in the central government.    According to an order issued by the department of personnel and training (DoPT)

GAIL to tie up with US firm for new gas power generation technology

State-owned GAIL (India) Ltd will tie up with California-based firm Bloom Energy Corp. on Monday to pursue natural gas-based fuel cell power generation, a new technology.   According to a news report published in the Liv

WAPCOS pays over Rs 25 crore dividend to government

State-run WAPCOS Ltd, under the aegis of union water resources ministry, has paid a dividend of Rs 25.25 crore for 2015-16 to the government. This is the highest ever since its inception. A dividend cheque was handed over to water r

BSNL’s officers urge centre to desist from disinvestment

 The Tamil Nadu circle executive committee of All India Bharat Sanchar Nigam Limited Officers’ Association has urged the central government to desist from any disinvestment in the BSNL in order to protect the interest of the consumers.

Modi’s statement on PSU show preference for revival

Prime minister Narendra Modi, during his independence day speech on Monday, said that public-sector behemoths like Air India and BSNL are now making profits. His reference to turning around of loss-making central public sector enterprises (CPSEs)

NBCC will soon achieve turnover of Rs 10,000 crore

NBCC (formerly National Buildings Construction Corp), a Navratna PSU, has been growing from strength to strength. Its CMD Anoop Kumar Mittal tells Pankaj Kumar that it has signed an MoU with DDA for development of an E

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


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