Page 7 - Psus

Rally in PSU banks to sustain on higher margins, loan surge: Morgan Stanley

Brokerage raises price targets for non-SBI state-owned banks

Select segments within PSU theme could outperform amid economic uptick

Public-sector banks, defence stocks could do well; PSUs exposed to commodities are at risk

Kerala govt enhances retirement age of state PSU employees to 60

The Kerala government has enhanced the retirement age of employees of most of the state PSUs uniformly to 60, drawing sharp criticism from a left-wing youth organisation. The order was issued on Saturday based on the recommendations of an expert committee, which conducted a comprehensive study on the formulation of a common framework for pay/wage structure of PSUs in the state except Kerala State Electricity Board, Kerala State Road Transport Corporation and Kerala Water Authority. The expert committee had recommended that the retirement age of employees of all state PSUs shall be enhanced uniformly to 60 as in the case of central PSUs. However, this will not be applicable to those employees who have already retired in accordance with the prevailing rules. The state leadership of the All India Youth Federation (AIYF), the youth wing of the Communist Party of India (CPI), protested against the government's decision to enhance the retirement age to 60, terming it as a move against th

Shriram Group likely to submit EoI for privatisation of IDBI Bank

Entry of Shriram Group as a bidder, could set the stage for at least a two-way contest for IDBI Bank with Prem Watsa's Fairfax Financial also believed to be a contender

Government identifying PSUs with land bank but little business for selloff

The government is identifying public sector organisations with little to no business activities that are sitting on land banks to privatise or sell off

Sebi tightens disclosure norms for IPOs; to relax rules for open offers

Markets regulator Sebi on Friday approved a slew of changes to various regulations, including tightening the disclosure requirements for initial public offerings. At its board meeting here, Sebi also decided to relax the pricing rules for open offers with respect to disinvestment of public sector undertakings. For IPOs, the regulator cleared the proposal mandating the issuers to disclose the offer price based on past transactions and fund raising activities. Also, companies contemplating IPOs will soon have the option to make confidential pre-filing of offer documents. Besides, the watchdog's board gave its nod to bring buying and selling of mutual fund units under the ambit of insider trading rules.

Beat sectoral returns by 5 percentage points annually, PSUs told

PSUs have also been told that the dividend distributed by them would also be considered to evaluate their performance on this parameter

Almost 50% coal blocks allotted to power PSUs face delay in prodn: Report

Seven out of the total 16 coal blocks issued to state-owned power sector entities or PSUs are yet to start or have just started production, even more than seven years after their allotment

Finance Minister Sitharaman nudges India Inc to clear unpaid dues of MSMEs

Nirmala Sitharaman said it is encouraging that larger companies are including amounts owed to MSMEs in annual statements

PSU general insurers recommend 12% wage hike, unions dissatisfied

The unions had earlier warned the management of the five companies not to vitiate the industrial relations (IR) environment by a unilateral action

Govt plans to auction 17 non-operational mines surrendered by PSUs: Joshi

The government plans to put on auction 17 mines surrendered by public sector undertakings which could not put the blocks into operation, Coal and Mines Minister Pralhad Joshi said on Tuesday. The statement comes in the wake of the government making efforts to ramp up domestic coal production to ensure adequate availability of dry fuel to different sectors. "Just the-day-before yesterday (Sunday) I got 17 blocks back and they are very good blocks and I am putting them for auction now," Joshi said. Speaking during a conference on the Indian minerals and metals industry organised by NMDC and FICCI, the minister said many PSUs in the country in sectors like coal were sitting on big mines. The government decided to take away all those mines from the public sector undertakings which do not get into operation even after the lapse of five to six years and put them on sale. "I talked to the chief ministers and ministers of a few states and asked them the reasons for sitting on mines. These

BEML to list land holding company, clearing way for privatisation

Defence PSU's board will meet on August 18 to finalise a proposal for share allotment

Is the revival of BSNL a strategic bet for Indian Hi-Tech?

This hi-tech race is perhaps the new "arms race" as we enter into what seems to be the 21st century's version of a cold war that has pitted China against the West

After Covid setback, MSMEs owed Rs 10.7 trn in pending dues: Report

The share of micro and small enterprises stood at Rs 8.73 trillion, 80 per cent of the total pending amount

Casual workers PSUs hired fell 44% in first Covid-19 pandemic year

Experts say lockdown and near stalling of business may have prompted the decline

Top headlines: RIL Q1 profit surges 46%, MoD bans imports from 18 platforms

Public procurement by public sector undertakings (PSUs) from micro and small enter­prises rose nearly 11 per cent year-on-year (YoY) to Rs 41,699 crore in the fiscal year 2020-21

PSUs' buy from small business rose 11% to Rs 41,699 crore in FY21

About 239 of 389 PSUs owned about 1.61 million acres land collectively, the survey showed

SBI gains 17% in one month, surpasses LIC to become most valued PSU stock

In the past one month, SBI has rallied 17 per cent, as compared to a 5 per cent gain in the stock price of LIC.

The weaker side of generosity

High dividend payouts reflect low growth expectations

Major PSU banks to go live on account aggregator system by July-end

SBI and BoB are expected to go live by the deadline; PNB and Union Bank of India are already live on the ecosystem