Page 2 - Public Sector Undertakings Psus

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

Defence PSUs to hold roadshows in Dubai, Abu Dhabi to woo investors

These will set the stage for future stake sale by the government

Pressure mounts on power PSUs to split CMD post after ITDC's compliance

With a regulatory requirement for top-500 listed firms to split the position of chairperson and managing director being less than four months away, pressure is mounting on several PSUs

Privatisation: Changing tracks aided Air India, derailed BPCL sale

Changing tracks helps. But, not taking the beaten path isn't always helpful. This is the story of two of India's biggest privatisations - Air India and Bharat Petroleum (BPCL). Nearly two decades after the last privatisation, a landmark divestment concluded this year when the loss-making national carrier Air India was sold to the Tatas. This was made possible only after the government changed the track from selling 76 per cent of its stake in the national carrier to putting on block its entire 100 per cent holding as well as giving bidders an option of deciding how much debt they were willing to take over. But in the case of BPCL, the government ignored suggestions of following its time-tested policy of putting on block 26 per cent stake along with management control, just like it had done in the case of Hindustan Zinc and Balco. Instead, it offered its entire 52.98 per cent in the company operating in a sunset sector. The result - just three bids came in, and two of them struggled

No proposal to merge public sector general insurance companies: MoS Karad

The government on Tuesday said there is no proposal as of now to merge public sector general insurance companies. There are four general insurance companies -- New India Assurance Company, National Insurance Company Limited (NICL), United India Insurance Company Limited (UIICL) and Oriental Insurance Company Limited (OICL). In a written reply to the Rajya Sabha, Minister of State for Finance Bhagwat K Karad said there is no proposal under consideration of the government at present for merger of public sector general insurance companies. In a bid to foster blockchain technology for providing various financial services, banks have put in place Indian Banks' Blockchain Infrastructure Company Private Limited (IBBIC), Karad said in another written reply. The Reserve Bank of India (RBI) has informed that it has been pro-active in providing guidance for development of blockchain-based application through its new regulatory sandbox environment, he said. "State Bank of India (SBI) and Cana

Indian PSUs ink pact with Russian firm for supply of fertilisers in FY22

As many as 4 Indian public sector undertakings have inked a long-term pact with Russian firm Phos Agro for supply of five types of fertilisers including DAP in the current fiscal year, govt said

Govt receives Rs 566 crore as dividend tranches from 3 CPSEs

The government has received Rs 566 crore as dividend tranches from three CPSEs, a top official said on Thursday.

PSUs to compete with pvt firms for rail contracts following new order

The Railway Board has issued an order that will now make public sector companies compete with the private sector

Govt gets financial bids for Central Electronics after Air India deal

The govt seeks to disinvest its 100% shareholding in the PSU, buyer to observe three-year lock in

SPV of state-run firms may be tasked to redevelop land bank with sick PSUs

The govt may rope in state-run developers such as NBCC (India) to maximise value from the sale of sick and loss-making PSUs that failed to generate suitable investor in the initial round of bidding

New India on hiring drive, uncertainty continues for other 3 non-life PSUs

Even as The New India Assurance Company Ltd is on a massive recruitment drive, suspense continues in the case of the remaining three government owned non-life insurers, said industry officials.

National Monetisation Pipeline dangerous bid by Centre to raise money: TMC

Trinamool Congress Tuesday lashed out at the newly unveiled National Monetisation Pipeline calling it a "dangerous bid" by the "bankrupt" Narendra Modi government to raise money

Legalised loot, organised plunder: Cong on National Monetisation Pipeline

The Congress described the govt's infra monetisation plan as "legalised loot and organised plunder", alleging that invaluable public assets created over decades are being handed over to a chosen few

PSU insurers employees go on strike to protest proposed privatisation

Employees of public sector general insurance (PSGI) companies are observing nationwide one-day strike on Wednesday to protest against intended privatisation of state-owned insurers.

Best of BS Opinion: Fresh Covid worries, India's Afghan crisis, and more

Here are the best of Business Standard's opinion pieces for Thursday

Making PSUs board-yukt and sarkar-mukt

PSUs have played a well-defined role in India's progress over 74 years. Some have delivered sterling outcomes that the return-seeking, capital-poor private sector would have been unable to do

Getting a breather: High commodity costs give debt relief to PSUs

Combined net debt stood at Rs 6.83 trillion at the end of March 2021

These lesser-known firms set to make a mark in India's oil and gas sector

Nippon Power, South Asia Consultancy, PFH (Poddar Family Holdings) Resources and Chennai-based Adbhoot Estates could be the first ones to start production from blocks awarded during DSF-1 auctions

Preferential valuation

PNB Housing should have engaged an independent valuer

Govt proposes one-year retention for Air India staff after privatisation

Draft RFP sets a precedent for all state-owned firms on the block