UltraTech Cement was the top gainer in the Sensex pack, rising around 3 per cent, followed by TCS, Reliance Industries, HCL Tech, Infosys and Kotak Bank. Nifty rose for the sixth consecutive day, up 37.20 points or 0.28 per cent to 13,392.95.
The LIC and some PSU general insurers are expected to maintain dominant position in the coming years even in the liberalised scenario, ICRA said in a research report.
India Inc is looking at the public sector to steer its ambitions, as former PSU heads are taken on board to lead the private sector.
The laggards include FMCG (16 per cent), Energy (37 per cent) and Media (34 per cent).
The government will soon finalise a reshuffle of top management teams in the country's leading 11 public sector banks (PSBs), 10 of which are listed on the stock exchanges. They include the country's third largest bank, Canara Bank, and fifth largest bank, Bank of Baroda.
If the markets regulator has not yet sent an advisory note to Coal India on its chief executive's frequent announcements in the media, it is probably because it is a public sector enterprise.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
A review of three years' audit reports of CAG showed that the state PSUs' losses of Rs 6,072.96 crore (Rs 60.72 billion) were 'controllable' with better management.
'This fall is nothing. We could see worse if everybody hits the panic button.'
As the Tata group inches closer to taking over Air India in January 2022, the $242-billion conglomerate will also inherit a stake in Kerala's Cochin airport. The Tatas would become the only airline to have an operational stake in a major Indian airport. The airport is a strategic hub connecting India to Middle East nations - home to the largest share of Indian migrant workers. In addition to Air India and Air India Express, private carrier Indigo also uses Cochin to ferry the lucrative 'Malayali Gulf traffic' to multiple locations like Jeddah, Riyadh, Sharjah, Dubai, Abu Dhabi, Doha, Kuwait and Bahrain, among others. According to regulatory filings, Air India has a three per cent stake in Cochin International Airport.
Labour unions on Monday threatened to go on a lightning strike the day government invited bids for privatising highly profitable oil public sector units HPCL and BPCL.\n\n\n\n
Report points out corporate vulnerability indicators remain elevated.
Public sector banks have asked the Centre to intervene as talks with bank unions for allowing half of their employees a second chance to opt for pension instead of provident fund have reached a deadlock.
The move is expected to encourage brokers to sell issues, which have not received a very encouraging response so far.
Equity benchmarks Sensex and Nifty ended marginally lower on Tuesday as investors booked profits at higher levels amid a mixed trend in global markets.
Besides, some PSUs that have remote locations are unable to communicate the public offer message to their employees and face various difficulties like opening demat accounts.
An Asscocham survey reveals that middle-rank employees in public sector units, foreign embassies and academic institutions are satisfied with their jobs driven by limited accountability.
Public sector banks, in a frenzy to cash in on the retail credit boom during the three years beginning 2003-04
In 2003 when the West Bengal government initiated public sector units restructuring programme, it was believed that off loading government's stake in PSUs would deliver effective social welfare programme in the state.
FDI rules announced last year changed the criteria of calculating these investments and included American depository receipts, global depository receipts and convertible shares also in that category.
Reckless lending during the three years of the retail credit boom beginning 2003-04 is hurting public sector banks hard.
Reliance Industries Limited was leading the chart of the top-10 valued domestic companies, followed by Tata Consultancy Services, HDFC Bank, Infosys, Hindustan Unilever Limited, HDFC, ICICI Bank, Kotak Mahindra Bank, State Bank of India and Bajaj Finance Limited.
Employees of profit making central public sector units may retire at 60 years against 58 currently, depending on the decision of the administrative ministry.
At present, the rules do not allow the government to shed stake in the four public sector general insurance companies - New India Assurance, United India Insurance, National Insurance and Oriental Insurance.
Financial performance, tax issues to be discussed on June 13 meeting.
Public sector undertakings Bharat Earth Movers (BEML), Rural Electrification Corporation (REC), Power Grid Corporation of India and National Hydroelectric Power Corporation (NHPC), are slated to hit the market with their IPOs.
Lines up seven OFS issues along with half a dozen IPOs for the next few months
Officers of Central Public Sector Units will go an indefinite nationwide strike from December 22, demanding higher salaries and autonomy for the public sector.
Infrastructure, power, capital goods, PSU, healthcare, banking, oil and gas and metal stocks nosedived
Concerned over the flight of talent from public sector undertakings to private sector, officers of profit making public sector units have threatened to go on an indefinite strike from December 22 seeking higher salaries.
ONGC retained the top position on the coveted list of 10 most profit-making PSUs, while AirIndia was the biggest loss-making state firm during 2010-11.
The current employee strength of all state-run banks is about 672,000.
The wait of seven public sector companies for inclusion in the elite Navratna club seems to be an endless affair, with the meeting of a top body that will vet their case repeatedly getting postponed because of absence of compelling proposals.
The Comptroller and Auditor General of India on Friday criticised the previous National Democratic Alliance government for undervaluation of a number of public sector units, including Balco and VSNL, where equity was divested.\n\n
Bajaj Finance was the top laggard in the Sensex pack, skidding over 2 per cent, followed by Kotak Bank, Nestle India, HDFC, M&M and ICICI Bank. ONGC was the top gainer, rallying around 8 per cent. NTPC, Asian Paints, Tech Mahindra, PowerGrid and IndusInd Bank were among the other winners.
For automakers, the festive season is about raking it in through ramped up sales and attractive consumer offers. However, despite the robust demand, what may spoil the party this year is a global shortage of semiconductors.
Mallya claims private airlines were discriminated against by the Indian government, which bailed out state-owned Air India but did not assist his own Kingfisher Airlines and now Jet Airways.
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