Page 17 - Psus

Govt to appoint global consultants to sell excess land holdings of PSUs

The process, to be carried out by the Niti Aayog with the help of the Finance Ministry's DIPAM, will be a big source of revenue in the next two years

From ONGC to Coal India, PSUs set to pay higher dividend with tax savings

The PSU stocks, though, could see risk due to greater disinvestment for fiscal 2020, global financial firmBank of America Merrill Lynch said

Centre is looking at cutting import duties: BJP's Gopal Krishna Agarwal

Now, banks are sitting on a lot of liquid cash. Similarly, our corporate houses have liquidity in their systems. They have to invest, he said

Letter to BS: Banks, PSUs must get free hand to manage their resources

The government and the RBI will have to ensure that all banks get a level playing field to manage their businesses professionally

Finance ministry asks departments, PSUs to expedite capital expenditure

These capex reviews come just a day after Finance Minister Nirmala Sitharaman met representatives of the infrastructure sector

From Coal India to ONGC, shares of PSUs log biggest gain in four months

Among its constituents Coal India rose 7.3 per cent, ONGC 5.3 per cent, BPCL 4.5 per cent, and Nalco and Indian Oil by above 3 per cent each

Letters to BS: Let's get real, merging PSUs doesn't amount to privatisation

Merging one public sector undertaking with another, transferring stake from one pocket to a different one is a sort of game played by all successive governments

Selling less while raising more

Clearer commercial focus and tighter financial discipline may yield a steady steam of dividends

Top 10 biz headlines: RBI helps govt on fiscal deficit, IndiGo AGM & more

From RBI's surplus transfer helping the govt contain fiscal deficit at 3% of GDP in 2019-20 to India's leading PSUs facing financial headwinds, here are the top business headlines for Tuesday

India's leading PSUs stare at weak balance sheet and rising debt

There has also been a sharp dip in cash reserves available with PSUs

No protection to PSU employees from criminal persecution, rules SC

Apex court asks trial court magistrate to try and finish trial against BSNL employees within one year

The structure of asset sale

A vital question for the government, however, is whether it wants to pursue both equity disinvestment in PSUs and asset sale, simultaneously, and whether one company can figure in both programmes

Govt needs to sell stake of over Rs 250 billion as deadline draws near

Sebi had given an extension last year for PSUs to meet 25% minimum public shareholding rule

Modi govt exploring opportunities for more mergers in energy: Dipam secy

FM Sitharaman said strategic disinvestment of select central PSUs would remain priority for this government

Corporate governance of PSUs: A case for change

There is relative lack of accountability and transparency compared to the mandate for companies in the private sector

Squeezing PSUs

Demanding second interim dividend is bad optics

NPAs of public sector banks decline by over Rs 230 bn in March 2018: FinMin

Various initiatives taken by the government have yielded results, with the bad loans of public sector banks declining by over Rs 23,000 crore from a peak of Rs 9.62 lakh crore in March 2018, said a senior finance ministry official. At the same time, public sector banks (PSBs) have also made a record in recovery of Rs 60,726 crore in the first half of the current financial year, which is more than double the amount recovered in the corresponding period last year. "Gross non-performing assets (NPAs) of PSBs have started declining after peaking in March 2018, registering a decline of Rs 23,860 crore in the first half of the current financial year," Financial Service Secretary Rajiv Kumar said. According to the latest finance ministry data, non-NPA accounts overdue by 31 to 90 days (Special Mention Accounts 1 & 2) of PSBs have declined by 61 per cent over five successive quarters - from Rs. 2.25 lakh crore as of June 2017 to Rs 0.87 lakh crore in September 2018. "This has ...

Cabinet approves plan to list 6 state-owned firms, dilute stake in one

The government has set a disinvestment target of Rs 800 billion this financial year, but in the first half it managed to mop up a little over 10%

Govt likely to make additional capital infusion in state-owned banks: Garg

According to sources, the government is considering additional capital infusion of up to Rs 300-400 billion in PSBs as they have been unable to raise required funds from the markets

PSUs cut dividend 2nd time in a decade as cash reserves continue to dwindle

The combined dividend pay-out by state-owned firms, excluding banks, down 9.3% in 2017-18; Combined cash reserves at all-time