Page 8 - Public Sector Undertakings

Govt extends Bharat Petroleum privatisation bid deadline to July 31

Any private company having a net worth of $ 10 billion is eligible for bidding and consortium of not more than four firms will be allowed to bid

Sebi grants temporary relief to companies from public float norms

Sources say companies had approached the regulator seeking relaxation citing unfavorable market conditions through investment bankers and industry bodies

'Sick' pharma PSU offers to step in to reduce China drug dependence

HAL can make up to 50 per cent of bulk drugs if it is provided financial assistance to upgrade its infrastructure, the company said

No case for differential treatment to PSUs on AGR dues matter, says COAI

Fifteen telecom companies owe the government Rs 92,642 crore in unpaid licence fee and another Rs 55,054 crore in outstanding spectrum usage charges.

PSU exchange-traded funds yet to get tax benefits proposed in Budget 2019

Among the key proposals of Finance Minister Nirmala Sitharaman's maiden Budget was extending the Section 80C tax advantage to PSU ETFs. However, the proposal is yet to be notified

A flawed strategy

Asset sales for raising Rs 1 trillion is a mirage

New projects surge in December quarter; up 37% at Rs 4.26 trillion

The rise in new projects is despite a fall in capacity utilisation

CPSEs' non-compliance to directives led to Rs 9k-cr dividend shortfall: CAG

The CAG also pulled up the government for including the income from investment in SUUTI as part of the disinvestment proceeds leading to overstatement of Rs 1,400 crore

Par panel for punitive action as power firms' dues to CIL hit Rs 8,437 cr

The panel said it is concerned to note that huge amount of dues are outstanding from the state and other utilities for years

Investors may be losing interest in PSU stocks as they reassess feasibility

Market players say privatisation buzz, hopes of hefty dividends post tax cut, and buyback arbitrage had kept many of the PSU counters ticking

Collateral damage? PSU majors stare at huge AGR bill after SC's judgment

The government has set up a committee of secretaries to look into all issues

Clearing the deck: Govt removing legislative barriers to privatisation

The core group of secretaries on disinvestment has recently approved the disinvestment of five public sector undertakings PSUs

PSUs lose 22% in 2019 amid market volatility and multiple headwinds

Market observers believe that PSUs have been under pressure since 2018

PSUs get booted out of top 10 market-cap club; analysts eye divestment

India's largest bank by assets, State Bank of India (SBI) and the sole stock to hang on to this elite list was evicted last week, with its market-cap out falling below that of Bajaj Finance

Time to do away with fiscal responsibility law? No virtue in stipulating 3%

Target years for reaching the desired fiscal deficit are pushed back; and when FMs are unable to get close to targets, they fudge the books and push the burden on to hapless PSUs, writes T N Ninan

Selling less while raising more

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

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

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

Most PSU stocks lost ground under the UPA II and NDA governments

Traditionally, most PSUs have been cash-rich, which added to their value. However, the government has been tapping regularly into their cash resources to boost revenue for the exchequer