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TREND | 24 Oct 2024

PSUs fizzle out over unrealistic valuations, sluggish earnings

Economic Times

Nineteen out of 64 non-banking stocks have plunged between 40% and 55% from their yearly highs, while another 28 have declined by 30% to 40%. Overall, 64 state-owned corporates have lost nearly 8 lakh crore in market capitalisation since August 1, the day the BSE PSU index hit an all-time high.

PSU

TREND | 22 Oct 2024

Mastek To Tap Public Sector Clients In US, UK For Growth In Second Half

NDTV Profit

Agarwal attributed Mastek's order book buildup to the company signing high-value orders, especially in the UK's public sector.

PSU

TREND | 22 Oct 2024

CPSE dividend likely to cross record FY24 tally; Rs 29K cr in kitty so far

Business Standard

Govt may garner Rs 65,000 crore in FY25

PSU

TREND | 20 Oct 2024

PM's Internship Scheme included in common theme for CPSEs CSR spend in FY25

Business Standard

The Government has revised the CSR guidelines for CPSEs by including PM's Internship Scheme as the common theme for the current fiscal, an official said. Currently, Central Public Sector Enterprises (CPSEs) follow a theme-based approach in utilising their Corporate Social Responsibility (CSR) funds. CPSEs have to spend 60 per cent of their CSR funds on the theme set for a particular year. "We have added PM's Internship Scheme to 'Health and Nutrition' as the common theme for CSR activities by the CPSEs for 2024-25. CPSEs will spend 60 per cent of their CSR funds towards 'health and nutrition' and PM's Internship Scheme this fiscal," an official told PTI. The Ministry of Corporate Affairs, earlier this month, started enrolling companies as well as interns under the Prime Minister's Internship Scheme. Over five years, the scheme envisages providing internships to 1 crore youth. Under the pilot project, which is estimated to cost around Rs 800 crore, the 12-month long internship will

PSU

TREND | 15 Oct 2024

Iron & Steel, Housing Finance, and PSU Banks among most undervalued PSU sectors: Value Stocks

Economic Times

Value Stocks research found that 16 out of 26 PSU subgroups are undervalued. Iron & Steel, Housing Finance, and PSU Banks are highlighted as undervalued sectors with attractive investment opportunities.

PSU

TREND | 14 Oct 2024

MTNL soars 9% as co plans 'not to shut shop' or go to NCLT, say reports

Business Standard

The government plans to keep MTNL as a 'going concern' as the company going to NCLT will not set the right precedent for other PSU companies

PSU

TREND | 13 Oct 2024

Coal India's Contribution To Government Drops To Rs 28,930 Crore In First Half Of FY25

NDTV Profit

In the April-September period of FY24, the PSU had paid Rs 29,122.13 crore to the government exchequer, according to provisional figures of the coal ministry.

PSU defaults, moral hazards: Can banks keep relying on govt ownership?

Business Standard | 13 Oct 2024

PSU

TREND | 12 Oct 2024

HAL now a Maharatna CPSE, announces Finance Ministry

Business Line

HAL, a Department of Defence Production (DoDP) CPSE, has an annual turnover of 28162 crore and saw a net profit of 7595 crore in FY2023-24

HAL awarded Maharatna status; Big action expected on Monday!

Business Today | 12 Oct 2024

PSU

TREND | 11 Oct 2024

J-K admin amends Civil Services Rules to set up Services Selection Board

Business Standard

The Jammu and Kashmir administration on Friday amended the Civil Services Rules to provide for the setting up of Services Selection Board for recruitment of non-gazetted staff, including Class IV employees. "There shall be constituted a Service Selected Board for making selection for recruitment to subordinate services/non-gazetted/class IV (MTS) posts borne on establishment of any department or service of the government or any Public Sector Undertaking/Government company/Corporation/Board/Organisation and body substantially owned or controlled by the government of union territory of Jammu and Kashmir," the amendment issued by the administration reads. The move has led to criticism of the LG administration for taking a decision on the matter as an elected government is about to take charge. "Just when the elected government about to be sworn in," PDP leader Naeem Akhtar posted on X in an apparent reference to the LG's order.

PSU

TREND | 11 Oct 2024

TN CM announces bonus, ex-gratia to 2.75 lakh state PSU employees

Business Standard

Tamil Nadu Chief Minister M K Stalin has announced a bonus and ex-gratia for 2.75 lakh employees of state public sector undertakings and statutory boards for the 2023-24 fiscal. Accordingly, all eligible workers of profit making PSUs under group C and D will be paid a minimum bonus of Rs 8,400 and a maximum of Rs 16,800, amounting to 8.33 per cent bonus and an ex-gratia of 11.67 per cent, an official release here said. The employees of the PSUs lacking allowable surplus will be paid a bonus of 8.33 per cent and an ex-gratia of 1.67 per cent. "The Tamil Nadu chief minister on October 10 ordered payment of bonus and ex-gratia to a total of 2,75,670 workers of state PSUs ahead of the festive (Diwali) season," the release said, and added that the move would entail the government an expenditure of Rs 369.65 crore. The workers and employees of TANGEDCO, state transport undertakings, Tamil Nadu Civil Supplies Corporation, and Cooperative Milk Producers' Federation will be paid 20 per cent