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TREND | 26 Jul 2024

Shutting down vaccine PSUs will erode capabilities further, says Congress

Business Standard

The Congress on Friday hit out at the government over the Bharat Immunologicals and Biologicals Corporation Limited (BIBCOL) reportedly facing a "grim future", and said shutting down vaccine PSUs will only erode the country's capabilities further. Congress general secretary in-charge communications Jairam Ramesh shared on X a media report which claimed that the BIBCOL factory in Uttar Pradesh's Bulandshahr, that was at the forefront of India's fight against polio before, hasn't produced a single vaccine since December 2022. "Bharat Immunologicals and Biologicals Corporation (BIBCOL) was set up in the late 1980s, at the personal initiative of Prime Minister Rajiv Gandhi, to make India self-sufficient in the production of oral polio vaccines. It was my good fortune to have been associated with its establishment at Bulandshahr in UP as part of the technology mission on immunisation," Ramesh said in a post on X. But BIBCOL now faces a "grim future in the era of the non-biological PM", h

PSU

TREND | 26 Jul 2024

SJVN shares zoom 13% on getting Rs 14,000 crore Mizoram project

Economic Times

Shares of PSU power stock SJVN surged over 13% to Rs 159.60 on BSE on Friday, following the receipt of a Letter of Intent from the Mizoram government for the Darzo Lui pumped storage project. This project, comprising eight units of 300 MW each, is an On-stream Closed Loop Type pumped storage project.

PSU

TREND | 24 Jul 2024

This PSU telecom stock has zoomed 110% in 2 weeks; hits over 14-year high

Business Standard

MTNL share price was locked in the 5% upper circuit at Rs 88.06, MTNL stock is quoting at its highest level since January 2010

PSU

TREND | 22 Jul 2024, 10:15PM

A new PSU isn't the answer

Business Standard

Government needs to rethink fleet expansion strategy

PSU

TREND | 22 Jul 2024, 07:17PM

Indian Overseas Bank Q1 results: Net profit rises 26.6% to Rs 633 crore

Business Standard

Public sector Indian Overseas Bank on Monday reported a 26.60 per cent rise in its net profits for the April-June 2024 quarter at Rs 633 crore. The city-headquartered bank had registered a net profit of Rs 500 crore during the corresponding quarter of last year. Total income during the quarter under review grew to Rs 7,568 crore up by 21.54 per cent from Rs 6,227 crore registered in the same quarter of last year. Total business of the bank during the quarter under review grew by 16.04 per cent to Rs 5,28,773 crore from Rs 4,55,664 crore registered in the same period of last year. For the quarter ending June 30, 2024 the Net Interest Margin stood at 3.06 per cent while the Provision Coverage Ratio improved to 96.96 per cent registering an improvement of 293 basis points. The Non-Interest Income grew by 28.64 per cent year-on-year to Rs 1,033 crore in Q1FY'25 as against Rs 803 crore registered in Q1 of last financial year. The interest income grew by 20.48 per cent year-on-year to

PSU

TREND | 20 Jul 2024

PSU refiner BPCL expects further cuts in oil OSPs as fuel margins drop

Business Standard

Indian refiners have also raised imports of Russian crude sold at discounts after Western nations imposed a raft of sanctions against Moscow for its invasion of Ukraine

PSU

TREND | 19 Jul 2024

Britain borrows more than expected, underscoring task for new government

Business Standard

Public sector net borrowing, excluding state-controlled banks, was a larger-than-expected $18.75 billion last month

PSU

TREND | 16 Jul 2024

GRSE gets 840-cr order for ocean research vessel

Business Line

Kolkata-based defence PSU GRSE signed a contract with National Centre for Polar & Ocean Research (NCPOR), Ministry of Earth Sciences on Tuesday for delivery of the vessel

PSU

TREND | 12 Jul 2024

Indices hit new high as TCS results raise hopes on India Inc

Business Line

PSU stocks continue to shine in current rally

This PSU stock has surged 97% from June lows; zooms 850% over issue price

Business Standard | 12 Jul 2024 1 more

PSU

TREND | 12 Jul 2024

Coal India to ease e-auction rules, plans to tweak allocation methodology

Business Standard

Maharatna coal behemoth Coal India Limited (CIL) on Friday said it has taken steps to ease e-auction norms like lowering the earnest money and enhancing the quantity of the dry fuel on offer. The company is also planning to tweak its auction and allocation methodology, as it aims to encourage increased participation. "CIL has taken steps to ease the norms in e-auctions like lowering the earnest money deposit (EMD) and ramping up the quantities offered under the auction hammer," the PSU said in a statement. The coal behemoth has asked all its arms barring Northern Coalfields Ltd, to spike up their offer quantity under e-auction to 40 per cent of their respective total production for the second and third quarters of this financial year. At present, Coal India operates only a single window mode agnostic e-auction scheme, where consumers can opt their own preferred mode of transport of coal. "The company is also planning a revamp of its auction and allocation methodology under its...

Hindustan Copper may exceed capex target of Rs 350 cr this financial year

Business Standard | 12 Jul 2024