Analysts seem to be generally pessimistic about Bharat Heavy Electricals (BHEL). Out of 15 brokerages with recommendations since May this year, two have 'buy' while five have 'sell' and eight have 'underweight'/'reduce'/'underperform'/'hold' recommendations. The average target price of the public sector undertaking (PSU) is Rs 61. However, the stock has been consistently hitting new highs, which indicates that there is some kind of valuation mismatch.
In an urgent need for its image makeover, the scam-tainted coal sector will require mammoth efforts in 2015 from the government and the corporates too.
PSU employees will now get an option to subscribe up to 5 per cent of the issue size at a discount after the completion of disinvestment in the concerned state-owned company.
In the last two months, these stocks have lost nearly a quarter of their market cap.
Tata Motors was the biggest gainer in the Sensex pack, rallying 2.94 per cent. It was followed by Vedanta, Bajaj Finance, Sun Pharma, ONGC, ICICI Bank, Bajaj Auto, Tata Steel, RIL, HDFC duo, L&T and SBI, rising up to 2.78 per cent.
The top 100 companies have accounted for 63% of the gains (Rs 51 trillion out of Rs 81 trillion), while firms beyond the top 100 have contributed 37 per cent (Rs 30 trillion).
Company looking for acquisition of coal properties abroad.
In the last two months, these stocks have lost nearly a quarter of their market cap.
Coal India was listed on November 4, 2010, and its market value today stands at over Rs 2 lakh crore.
Putting money in key PSUs a better option
As per the budget document presented in Parliament, public sector enterprises, including banks, are expected to contribute Rs 88,188 crore in the form of dividend and profit to the government in the current financial year.
At around 3 pm on Wednesday, India's daily peak power demand touched 220 gigawatts (Gw)-the highest daily peak ever in the history of the country. The ministry of power in its estimates had projected country's power demand to cross touch 220 Gw during the months of April-June. With a cooler April due to unseasonal rains, the peak shifted to May.
Officers of Central Public Sector Units will go an indefinite nationwide strike from December 22, demanding higher salaries and autonomy for the public sector.
Besides offtake pact, the navratna firm has planned equity infusion and forming joint ventures to expand its global footprint.
The PSU had earlier this week filed the draft papers for its initial public offering, billed to be India's biggest issue, through which the government expects to raise up to Rs 15,000 crore (Rs 150 billion).
Freight rates for 12 commodities hiked.
The Coal Ministry on Monday received a total 69 applications from various PSUs
The power sector is always strongly correlated to economic activity and is receiving its share of investor attention as India's post-Covid-19 recovery continues. India's leading integrated power producer, the public sector undertaking (PSU) NTPC controls around 25 per cent of India's power capacity. It continues to increase installed capacity, in thermal as well as renewables (solar, wind, green hydrogen) and hydropower and pumped hydro, and also has backward integration into coal mining, and explored nuclear.
Over 54,000 public sector employees opted for voluntary retirement scheme in 2001-02, Rajya Sabha was informed on Monday.
The Finance Ministry has called a meeting of heads of public sector banks to clear stalled projects.
The companies that have signed these pacts with the India chapter of the Berlin-based Transparency International include PSU majors such as GAIL (India), Coal India, Oil and Natural Gas Corporation, Steel, Hindustan Petroleum Corporation, Steel Authority of India, National Mineral Development Corporation and Rashtriya Ispat Nigam. In fact, 12 of the 14 companies that signed the pact, did so in the last six months.
The National Democratic Alliance government is weeding out independent directors on the boards of public-sector undertakings (PSUs).
Tata Sons stake in the group's listed companies is now worth Rs 9.28 trillion, up 34.4 per cent on a year-on-year (YoY) basis. In comparison, the Government of India's stake in listed central public sector undertakings (PSUs) is currently valued at Rs 9.24 trillion
ONGC is the country's most profitable PSU.
The comments follow media reports that the government is looking to sell 10 per cent stake in Coal India to raise Rs 24,000 crore (Rs 240 day).
ETFs function like a mutual fund scheme and have underlying assets of government-owned companies.
Offloading shares in ONGC, CIL, NHPC may fetch govt more than the year's target.
The BSE Sensex was down 326 points at 23,277 and the Nifty was down 107 points at 7,056.
International oil prices retreated from an over seven-year high but was still above $100 a barrel and continue to pose threat to India's inflation rate and current account deficit. While there are no supply concerns as the oil route remained open, consumers will feel the pinch when PSU oil firms start passing on the increase in international rates through a revision in petrol and diesel prices, which have been on a pause for over three-and-a-half-months in view of elections in Uttar Pradesh and four other states. The government is "closely monitoring the situation" and will "take appropriate steps as and when required", a top official said. Brent crude oil surged past $105 per barrel on Thursday for the first time since August 2014, following Russia's invasion of Ukraine.
The amount is around a fifth of the cumulative investment in fixed assets by these companies.
'The correction could take two to three months and traders need to be careful.' 'For investors, this could be a good time to nibble in.'
Coal India fell the most by 2.58 per cent among Sensex scrips, dragging the index into the negative zone.
Oil tanked to a 7-year low as OPEC decided to maintain production.
P Chidambaram says all options are on the table.
Market cap of government companies has remained unchanged in the past 8 years.
Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&M, falling up to 3.09 per cent.
Kicking off its disinvestment drive, the government will sell 5 per cent of its stake in steel major SAIL on Nov 5.
The department of investment and public asset management (Dipam) can also seek in-principle approval from the Cabinet Committee on Economic Affairs (CCEA) for strategic divestment of PSUs on a case-to-case basis considering investor appetite and sectoral trends.
Arun Jaitley will aim for jumps in other revenue streams for the government.
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