Navratna

FM Sitharaman hails SPMCIL, hopes it to get status of Navratna soon

Finance Minister Nirmala Sitharaman on Monday lauded the performance of the Security Printing and Minting Corporation of India Limited (SPMCIL) and expressed confidence that it will soon become a Navratna state-owned company. Currently, SPMCIL, under the administrative control of the Department of Economic Affairs of the Finance Ministry, is a Schedule 'A' Miniratna Category-I company of the Government of India. The government grants Maharatna, Navratna and Miniratna status to Central Public Sector Enterprises (CPSEs) based on certain pre-defined criteria, including financial parameters such as track record of profit and net worth. Inaugurating the Corporate Office of SPMCIL, Sitharaman appreciated the works being done by the CPSE, which include printing of currency notes, minting of coins for circulation and commemorative coins. She hoped SPMCIL would also achieve Navratna status, given its consistent financial performance. Following its capital restructuring in 2015, the company

Govt likely to upgrade four Miniratna PSUs to Navratna status soon

Govt plans to upgrade Cochin Shipyard, Goa Shipyard, GRSE, and MOIL

Centre to revamp guidelines for Ratna CPSEs to improve performance

CPSEs could be downgraded if performance worsens

IRFC to now venture into metro projects, says CMD & CEO Manoj Dubey

Will increase NIMs with non-rail funding, project refinancing

Govt upgrades IRCTC and IRFC to Navratna status from Miniratna-I

With these two additions, the total number of Navratna Central Public Sector Enterprises (CPSEs) has now increased to 26

Govt to decide on RINL funding next month after viability report

The Centre is awaiting a technical viability report, due November, from a UK-based consulting firm

RailTel gains 4% on securing Rs 79 crore order from MHADA; Details here

Railtel Corporation has secured an order to set up, migrate, and manage the data center and disaster recovery sites of Maharashtra Housing And Area Development Authority on cloud

How to trade newly crowned Navratnas: RailTel, SJVN, NHPC

SJVN, NHPC and RailTel Corp can potentially rally up to 14% from present levels, suggests technical charts. Watch out for these key support and resistance levels going ahead.

FM Nirmala Sitharaman approves 'Navratna' status for four CPSEs

The Department of Public Enterprises (DPE) in its statement said that Rail Ministry India CPSE had an annual turnover of Rs 2,622 crore and a net profit of Rs 246 crore for FY 2023-24

Nalco Q1 results: PAT up 76% at Rs 588 cr, total income at Rs 2,916 cr

State-owned Nalco on Monday reported a 76.3 per cent rise in consolidated profit at Rs 588.42 crore in the quarter ended June 2024. The company had posted a consolidated profit of Rs 333.76 crore in the year-ago period, National Aluminium Company Ltd (Nalco) said in an exchange filing. However, the consolidated income of the company during April-June period declined to Rs 2,916.62 crore from Rs 3,226.88 crore in the year-ago period, the filing said. The board has recommended final dividend of Rs 2 per share for 2023-24, subject to the approval of shareholders in the ensuing annual general meeting. "The final dividend...if approved...will be paid within a period of 30 days from the date of declaration," it said. Nalco, a 'Navratna' company, is one of the country's largest bauxite, alumina, aluminium and power complex. The government owns 51.28 per cent of Nalco's equity capital. The company has been operating its captive Panchpatmali bauxite mines for the pit head alumina refinery

Upgrade awaited: Govt considers Navratna status for Ircon and RCF

All time high net profits, annual turnover and net worth have enhanced such proposals from administrative ministries

BEL eyes Rs 20,300 cr turnover in 23-24 with push from indigenous products

State-run Bharat Electronics Limited has set a target of Rs 20,300 crore for financial year 2023-24 as demand for indigenous products is driving growth for the company, its Chairman and Managing Director Bhanu Prakash Srivastava said on Tuesday. In an interview with PTI here, he said the order book of the 'Navratna' PSU under the Ministry of Defence stands at around Rs 64,800 crore as on August 1 this year. The Bengaluru-headquartered company has plans to start marketing offices in Brazil, Armenia and Kazakhstan, Srivastava said. He said export sales target for 2023-24 is USD 90 million. BEL achieved a turnover of about Rs 17,300 crore in the previous financial year, a 15 per cent growth. Srivastava pointed out that defence business in any country is closely linked to government policies that are based on factors like the geopolitical scenario, security threats and economic growth of the nation. The Government of India, he noted, is focussing on self-reliance to encourage domesti

Maharatnas, Navratnas now appointing younger independent directors: Survey

The participation of women IDs on board of these companies has also improved

In Rail Vikas Nigam, India gets its 13th Navratna in nine years

Earlier, RVNL was in the Miniratna category - I and a schedule 'A' CPSE under Ministry of Railways which recorded an annual turnover of Rs 19,381 crores and net profit of Rs 1087 crores

RVNL surges 10% as JV emerges lowest bidder for project worth Rs 2,249 cr

In past one month, the stock has zoomed 73 per cent, as compared to 4 per cent rise in the S&P BSE Sensex.

Rail Vikas Nigam Limited receives the status of Navratna from Centre

With RVNL, India now has 15 Navratnas including names like Hindustan Aeronautics Ltd, Bharat Electronic Ltd and Oil India Ltd

Emami takes hit in key portfolio, to focus on health, hygiene and wellness

Despite a good summer, which ideally would have boosted the company's revenues in the summer portfolio, Emami saw a decline in demand with the consumer preferring to spend on essentials instead

Emami's Navratna plots its debut into the Rs 1,000-crore club

With Varun Dhawan as ambassador, a slew of extensions and a hefty push into non-metros, Emami eyes the big league for its brand

Facelift for Navratna

Eager to ride the consumer wave in favour of ayurvedic products, Emami is revamping the Navratna portfolio valued at over Rs 700 cr