The government's aim is to ensure it gets to its Rs 40,000-crore (Rs 400-billion) target from disinvestment proceeds before the end of 2010-11.
Steel Authority of India Ltd on Tuesday reported a net profit of Rs 255 crore (Rs 2.55 billion) during the first quarter ended June, 2003 as against a net loss of Rs 309 crore (Rs 3.09 billion) for the corresponding quarter last fiscal.
Following the two-tranche disinvestment, the government and the company would get Rs 8,000 crore (Rs 80 billion) each, Home Minister P Chidambaram told reporters after a meeting of the Cabinet Committee on Economic Affairs.
It was touted as a game changer but big-ticket privatisation has been a mixed bag as the government faces unanticipated challenges of lukewarm investor response, employee union agitation and legal hurdles. Prime Minister Narendra Modi's often-repeated statement 'the government has no business to be in business' guided the drawing up of an ambitious privatisation pipeline. While Air India sale succeeded, Bharat Petroleum Corporation Ltd (BPCL) divestment failed.
As the train which started from Howrah slowed down as a mark of caution running across freshly repaired tracks, a few muttered 'Jagannath, Jagannath', the name of the presiding deity of Puri, the destination of the train, but most were too stunned to speak.
However, the steelmaker said it will continue with the withdrawal of the Rs 500-750 per tonne rebate announced on the flat steel products -- mainly used by the automobile and the consumer durable sectors -- last month. Steel giant Tata Steel, which raised prices of some of its products last month by Rs 500-750, said there is no scope for increasing prices of the commodity in the near term and the domestic prices will continue to move in tandem with the global trend.
The transformation of Congress Vice President Rahul Gandhi, once a naive politician, into the most elastic entities in Indian politics is complete.
In the prevailing difficult circumstances, the Congress is the only party that can provide capable and decisive leadership to the country, Kharge asserted.
Ten of top 15 companies in 1991 were PSUs; now, there are only six. Their revenue share has also fallen from 86% to 45%
The government is bullish on Coal India and ONGC's stake sale programme which are to be held soon.
We are looking at bringing quality control orders for mass production items such as smart meters and ceiling fans. This will benefit our own industry and consumers, a government official said.
The share of foreign companies in private sector investments, directed towards building new factories and other facilities, has declined over the past six months. A mix of large domestic announcements and relatively lower growth in foreign capital expenditure (capex) plans have played a role, although foreign investments remain near record levels. The share of foreign companies in the overall private sector investments over the four quarters ended June 2023 has dipped to 14.9 per cent, as shown by a Business Standard analysis of data from the project tracker Centre for Monitoring Indian Economy.
'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.'
Steel Authority of India Ltd has informed BSE that rehabilitation package for IISCO approved by the Govt of India includes closure of Kulti Works.
Sam Bahadur is a mechanical summary of his life, ticking off one chapter after another without bothering to pause or ponder over their significance and influences, observes Sukanya Verma.
Enthused by the success of last year's voluntary retirement scheme, Steel Authority of India Ltd plans to further rationalise its workforce by another 5,000 this fiscal.
How should one billion Indians, for whom deprivation has become an inescapable way of life, join us in celebrating 75 years of Independence? And where do we go from here? asks Kalyan Singhal.
"The new food supply pipeline has also made it easier to supply better food in larger quantities to them, which is a good thing. Otherwise the situation remains the same," said Negi, who spoke to his brother.
They were among nine corporates that reported over a Rs 1,000 crore gain in market capitalisation in a month
'These are people whom very few give importance and they were doing a mammoth job for the nation.'
The Comptroller and Auditor General has pulled up leading public sector undertakings for glaring lapses in balance sheets, saying assets were overstated by Rs 377.43 crore (Rs 3.77 billion) in four Navratna companies including SAIL.
The protesters who had gathered under the banner of the Joint Forum for Restoration of Old Pension Scheme and National Joint Council of Action said they were worried about their post-retirement future.
The CBI suspects that an area around the Steel Authority of India Limited guest house in Shantiniketan was the place where the planning of the theft of Rabindranath Tagore's Nobel prize and other articles had been made.
Stocks of small- and mid-cap companies continued to gain ground in July, notwithstanding analysts sounding caution on these two market segments given the sharp run thus far in calendar year 2023 (CY23). Sanjeev Prasad, co-head of Kotak Institutional Equities, in a note co-authored with Anindya Bhowmik and Sunita Baldawa in June-end, had cautioned against the sharp run in small- and mid-caps. "We do not see any particular reason for the excitement in small- and mid-cap stocks.
Wiping out all the accumulated losses, the Steel Authority of India Ltd on Friday reported the highest ever net profit of Rs 2,512 crore (Rs 25.12 billion) for the financial year 2003-04.
Time and cost overruns are endemic to most Indian warship building projects. A central reason is the Indian Navy's operational assessment that it is better to get a warship late and ov
Contract workers are paid much less than regular workers. This year's Economic Survey estimates wages are on an average 20 times higher in the formal sector than in the informal sector. Arindam Majumder reports.
Earlier on Tuesday, Aam Aadmi Party had demanded that the Indian cricket team should opt-out of its match against Pakistan in ICC T20 World Cup in Dubai.
Continuing its efforts to improve the bottomline, Steel Authority of India Ltd has set an ambitious target of saving upto Rs 800 crore (Rs 8 billion) in the current fiscal with the help of lower interest outgo and cost cutting measures.
Hoping to turnaround in the current fiscal, Steel Authority of India is likely to witness a hefty 70 per cent reduction in losses mainly due to Rs 700 crore (Rs 7 billion) savings on account of lower interest outgo and intensive cost reduction drive.
The 13 firms under consideration had nearly a million employees as of March 2018, including contractual and temporary workforce.
Describing the summit as 'positive and constructive throughout', the chief minister said a lot companies have committed to invest in money into the state.
Infrastructure and real estate prominently feature as wealth destroyers.
The previous highest divestment proceeds for the first half of a year was around Rs 21,000 crore in 2016-17.
The temptation to get into businesses that are hot is perhaps too great for any politician, no matter what his public slogans are. Nehru plunged into hot sectors of his time -- engineering and iron and steel. Modi has plunged into digital payments -- the hot sector of his time, notes Debashis Basu.
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