In Budget 2020-21, the Department of Space has been allocated Rs 13,949.09 crore, of which Rs 8,228.63 crore has been earmarked for capital expenditure.
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.
Ulhas Joshi, Head -- Sales, Rank MF, a mutual fund investment platform, answers your queries.
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.
The government has increased the dearness allowance for officers and employees of the central public sector enterprises (CPSEs) by 5 per cent, to help them meet the increasing cost of living.The employees and workers of the CPSEs were earlier getting an IDA of 79.4 per cent of the basic pay, which came into effect on April 1.
The target of mopping up Rs 1.75 lakh crore from divestments of some of the public sector companies, including LIC and BPCL during the current fiscal, is on track and groundwork is being prepared for the goal, Chief Economic Advisor Krishnamurthy Subramanian said on Monday. On the COVID-19 pandemic, Subramanian said the impact of the second wave is lesser than that of the first one. In an interactive session, organised by Federation of Telangana Chambers of Commerce and Industry, the CEA said robust GST collections, over Rs one lakh crore per month for eight months in a row shows that consumption is picking up indicating positive signal for growth.
Over 210,000 executives in estimated 240 central public sector undertakings are in for a bonanza with a pay revision committee recommending a massive hike in their annual cost-to-company. The hike ranges between 379 per cent at the highest level and 57 per cent at the lowest across companies and levels.
After the CPI(M), the crucial partner of the ruling UPA government, raised its voice against any attempt to shut down three public sector vaccine manufacturing units, Union Health Minister Anbumani Ramadoss has quickly moved to announce that it will upgrade the units and 'do everything to protect their interest'.
L&T was the top gainer in the Sensex pack, rallying over 4 per cent, followed by Dr Reddy's, Sun Pharma, NTPC, IndusInd Bank, PowerGrid, ONGC and M&M. NSE Nifty jumped 119.20 points to 14,942.35.
The Securities and Exchange Board of India (Sebi) on Monday relaxed the norms for valuing perpetual bonds. The norms, which had sought to value banks' deemed residual maturity of Basel III additional tier 1 (AT1) bonds as 100-year debt from April 1, were strongly opposed by the finance ministry. In a statement released on Monday, the regulator said the maturity would be 10 years until March 31, 2022, and would be increased to 20 and 30 years over the subsequent six-month period.
At least two public sector banks Union Bank of India and Indian Overseas Bank have quietly increased interest rates on short-term deposits to raise resources and manage asset-liability mismatch. Union Bank has announced a special deposit scheme for 400 days, which offers 9 per cent interest. The scheme was launched much before the announcement of the monetary policy. Chennai-based Indian Overseas Bank has also raised rates for large deposits.
Finance Minister Chidambaram has summoned chiefs of public sector banks on May 1. This meeting will be held 2 days after the annual credit policy to review their financial performance in 2007-08. The move is being seen in banking circles as a message from the Centre to ensure that the public sector does not take interest rate cues from the central bank alone. Detailed agenda of the meeting has not been circulated. Bankers are waiting for signals from the RBI's monetary policy
The new guidelines restrict bankers not just from advising private sector companies in the 'same line of business' on public issues.
The government has appointed 10 merchant bankers including Goldman Sachs (India) Securities, Citigroup Global Markets India, and Nomura Financial Advisory and Securities India to manage the mega initial public offering of country's largest insurer LIC. Other selected bankers include SBI Capital Market, JM Financial, Axis Capital, BofA Securities, JP Morgan India, ICICI Securities, and Kotak Mahindra Capital Co Ltd, a circular on the divestment department website said. "Government has finalised the book running lead managers and some other advisors for the IPO of LIC," DIPAM Secretary Tuhin Kanta Pandey tweeted. The divestment department had invited applications for the appointment of merchant bankers on July 15.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Dr Reddy's was the top loser in the Sensex pack, shedding around 2 per cent, followed by Reliance Industries, Sun Pharma, HDFC twins, Infosys, M&M and PowerGrid. NSE Nifty slumped 137.65 points to 14,496.50.
The staff of public sector banks had gone on a nationwide strike for two days beginning February 10 after discussions with the IBA failed.
Bajaj Finance was the top gainer in the Sensex pack, rising around 2 per cent, followed by Sun Pharma, Tech Mahindra, Axis Bank, Bajaj Auto and Infosys. NSE Nifty rose 76.40 points to 15,174.80.
Public sector lenders Canara Bank, Corporation Bank and Allahabad Bank have decided to lower interest rates on housing loans, preferring to keep their prime lending rates (PLRs) unchanged. ICICI Bank Managing Director and Chief Executive Officer K V Kamath has indicated that the country's second largest bank would review interest rates only in 2008-09.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
With recruitment numbers having dropped off sharply since the liberalisation process got under way in 1991, large-scale retirements of people hired during the 1970s and 1980s will leave large gaps in the organisational structures of these banks.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Initial public offerings (IPOs) by start-ups are bringing cheer to investors and investment bankers alike. After food delivery company Zomato, Nykaa has issued the fattest pay cheque to the managers of its share sale -- Rs 148 crore, or 2.8 per cent of its issue proceeds of Rs 5,300 crore. In absolute terms, this is the second-highest amount paid to investment bankers for handling an IPO, while in percentage terms, it is the highest for large IPOs (>$300 million) in the last one year, shows an analysis of the data provided by Prime Database, a primary market tracker.
The nation-wide strike call has been given by United Forum of Bank Unions, consisting of nine national level unions, including AIBEA, NCBE, BEFI, INBEF, NOBW and AIBOC.
The posts of Chairman and MD in the private sector are held separately.
Affordable pricing, a variety of themes, and the ease of transacting are among key reasons that have made smallcases a hit among young investors.
ONGC was the top loser in the Sensex pack, declining around 5 per cent, followed by NTPC, Sun Pharma, SBI, IndusInd Bank, Bajaj Auto, PowerGrid and RIL. NSE Nifty slumped 189.15 points to 14,721.30.
Officers of public sector oil companies have threatened to go on an indefinite strike from August 21 if their demand for higher salaries was not met.
Infosys was the top gainer in the Sensex pack, jumping over 4 per cent, followed by Tech Mahindra, Tata Steel, ICICI Bank, ITC, Maruti, SBI and Axis Bank. On the other hand, HCL Tech, M&M, Dr Reddy's, Asian Paints, Bajaj Auto and Bharti Airtel were among the laggards.
Infosys CEO Salil Parekh has got a massive 88 per cent jump in annual remuneration to Rs 79.75 crore, making him one of the highest-paid executives in the country. The software services firm has sought shareholders' approval for the reappointment of Parekh as chief executive officer and managing director for a second five-year term beginning July 1. According to the company's annual report released on Thursday, Parekh, 58, took home a salary of Rs 71.02 crore in the fiscal year ended March 31, 2022.
The UPA-II may not talk about this, but it continues to implement its programme to revive ailing PSUs by investing fresh capital.
Among the gainers, RIL was followed by Sun Pharma, PowerGrid, Bajaj Finance, Nestle India and HCL Tech. On the other hand, Titan, L&T, ONGC, HDFC Bank and ITC were among the laggards.
At present, 58 per cent of the population has bank account.
Non-performing assets of banks have increased from Rs 2.75 lakh crore in March 2015 to Rs 7.33 lakh crore as on June 2017.
Considering the scarcity of land for development projects in Kerala, there should be optimal use of the land being held by the public sector companies, experts said.
Mid- and small-cap indices have outperformed the frontline benchmarks - the S&P BSE Sensex (up around 10 per cent) and the Nifty50 (13 per cent) - in the first half of calendar year 2021 (H1-CY21) by rallying 26 per cent and 39 per cent, respectively. The trend, analysts believe, is likely to continue in H2-CY21 as well. The outperformance in H1-CY21 comes on the back of improved earnings and strong inflows from the foreign portfolio investors (FPIs) in Indian equities. However, good monsoon so far, gradual opening up of the economy and the pick-up in the pace of vaccination provides support to the market.
The Securities and Exchange Board of India (Sebi)'s decision to require a minimum of 25 per cent public shareholding for government companies translates into around Rs 60,000 crore (Rs 600 billion) in divestments in the next three years.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
'It really doesn't matter that investors getting allotments sell their IPO stock holdings on listing day because a new set of investors are entering.' 'This explains the continued rise in stock prices even after the first day of listing.'
Sources said the company had already applied for a licence to produce defence products.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances