The ministry of petroleum and natural gas is evaluating a threshold at which the subsidy on liquefied petroleum gas (LPG or cooking gas) will be reinstated. According to a senior government official in the know, a survey is currently being conducted to determine the price at which maximum consumers will keep buying domestic cylinders. One of the options also being considered is to limit any subsidy disbursal only to Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries.
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.
The move is expected to encourage brokers to sell issues, which have not received a very encouraging response so far.
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.
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.
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.
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.
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.
Lines up seven OFS issues along with half a dozen IPOs for the next few months
Reckless lending during the three years of the retail credit boom beginning 2003-04 is hurting public sector banks hard.
Infrastructure, power, capital goods, PSU, healthcare, banking, oil and gas and metal stocks nosedived
Independent directors of Future Retail Ltd are collating information and will expose the details of contradiction and misrepresentation made by Amazon before the Competition Commission of India (CCI), said FRL independent director Ravindra Dhariwal. Speaking to PTI, Dhariwal said the independent directors are "collating" all the pieces of information together, going "deeper into each and every representation" which Amazon had made before the CCI and showing how its "intent was totally contradictory." "We are going out to point exactly to CCI, this is what they have told you and this is what the internal documents are saying. "We are going to expose the details of contradiction and details of misrepresentation, which they have made," Dhariwal said adding "We are going to show the true face of Amazon to the whole world". In November 2019, Amazon had acquired a 49 per cent stake in Future Coupons Pvt Ltd (FCPL), a company that holds a stake in FRL.
Financial performance, tax issues to be discussed on June 13 meeting.
Five-time World champion Viswanathan Anand said the career spans of chess players are getting shortened because of the intense competition within the sport.
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.
Employees of profit making central public sector units may retire at 60 years against 58 currently, depending on the decision of the administrative ministry.
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.
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.
PSU divestment, LIC IPO, fiscal deficit: Budget 2021 marks a clear change in the Modi government's stance from fiscal conservatism to growth orientation.
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.
Officers of Central Public Sector Units will go an indefinite nationwide strike from December 22, demanding higher salaries and autonomy for the public sector.
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.
The current employee strength of all state-run banks is about 672,000.
Urging India Inc to participate in the growth story, Sitharaman said they should participate in the divestment programme by becoming the first bidders.
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 divestment of Bharat Petroleum Corporation (BPCL) may hit a fuel price hurdle, according to officials dealing with the matter. They pointed out that the inconspicuous administered price regime could hamper the prospects for potential buyers of BPCL. A senior oil ministry official said public-sector oil-marketing companies (OMCs) take a hit when they sell petrol, diesel, and liquefied petroleum gas (LPG), three of the most popular petroleum products in the country.
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
India's ailing banks need immediate attention.
Air India is understood be in negotiations with state-run banks to avail working capital loans at low interests.
Why the recent strike could see the carrier go Air India's way.
M&M was the top gainer in the Sensex pack, soaring around 7 per cent, followed by Bajaj Finserv, Bharti Airtel, PowerGrid, Infosys and ICICI Bank. On the other hand, HUL, Kotak Bank, Bajaj Finance and ITC were among the laggards.
Historically, public sector units were conceived of under the assumption that they will control the 'commanding heights' of the Indian economy, which were necessary for rapid industrial growth but where private investment was unwilling to enter.
Work on disinvesting government holdings may gather pace after the first week of August. Administrative ministries of around 15 Public Sector Undertakings have been asked to give feedback on the feasibility of coming out with initial public offers by then.
The Union Cabinet on Wednesday approved the participation of the private sector in the entire range of space activities, including planetary exploration missions, Union minister Jitendra Singh said. The newly-created Indian National Space Promotion and Authorisation Centre (IN-SPACe) will provide a level playing field for private companies to use Indian space infrastructure, Singh, who is the minister of state in the Prime Minister's Office, said.
IndusInd Bank, Kotak Bank, ICICI Bank, Sun Pharma, Bajaj Finance and Ultratech Cement were prominent gainers. NSE Nifty rose 176.65 points to 14,867.35.
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