Among index funds, the most popular products are funds tracking the Nifty 50 and Sensex, says Dwaipayan Bose, and explains the finer points of selecting the right index mutual fund.
In the backdrop of intense competition in the sector, government on Tuesday asked telecom PSUs BSNL and MTNL to reinvent themselves to react faster on aspects like tender processes.
The AAP on Wednesday last had posted a video story on 'X' featuring industrialist Gautam Adani and Prime Minister Modi. The next day, the party posted a picture of Adani and Modi, and alleged that the prime minister works for the industrialist and not the people.
Domestic investors are tightening their grip on the ownership of listed companies. The gap between the shareholding of domestic institutional investors (DIIs) and foreign portfolio investors (FPIs) narrowed to 13.11 percentage points at the end of the September 2023 quarter. At the peak, the gap was nearly 50 percentage points in March 2015, according to an analysis by Prime Database, a leading provider of data on the capital market.
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 Coal Ministry on Monday received a total 69 applications from various PSUs
In the face of scramble for acquiring assets in natural resources like oil, coal and mines by large multi-nationals, the government is working on a policy enabling PSUs to step up search for key raw material assets, Prime Minister Manmohan Singh said.
Talking to reporters after the meeting, NTPC chairman and managing director Arup Roy Choudhury said the company plans to invest Rs 20,000 crore (Rs 200 billion) in the current fiscal and was confident of the capex plan.
State-owned oil firms may hike petrol price by about Rs 0.50 per litre from June 16 as last month's steep increase in rates is not enough to cover the cost of raw material (crude oil).
Ministries seek more discussions, Cabinet defers decision.
Aiming to raise Rs 40,000 crore (Rs 100 billion) from disinvestment, the government on Wednesday said it will sell its stake in 10 more PSUs, including IndianOil, MMTC, Coal India Ltd, SAIL, RINL and Shipping Corporation, in the current financial year.
The government must expedite its plan for asset sale and privatisation, both of which hardly got any mention in the Budget speech, points out A K Bhattacharya.
With the government planning to mop up Rs 24,000 crore (Rs 240 billion) through disinvestment this financial year, investors have once again become interested in public sector companies.
Indeed, this is one policy area where the Modi-led government is different from the one that was headed by Atal Bihari Vajpayee.
Says invest Rs 1.2 lakh cr or offer special dividend or give surplus cash back.
With general elections on the horizon, the government's privatisation bandwagon has almost but stalled as a government wary of being accused of selling family silver opts for minority stake sales on stock exchanges over outright privatisation. The result -- the divestment target for current fiscal year is again likely to be missed. Big ticket privatisation plans such as that of Bharat Petroleum Corporation Ltd (BPCL), Shipping Corporation of India (SCI) and CONCOR are already on the backburner and analysts feel meaningful privatisation can happen only after April/May general elections.
The MCA has written letters to various ministries following a request by the Satyam board that public sector undertakings should not insist on the financial statements and other information like details of turnover from the company while seeking bids.
In a report to the Planning Commission, the panel headed by former SAIL chairman S K Roongta suggested at least 30 central PSUs be listed in the next three years, going up to 50 over five years.
The Centre could further moderate its divestment target for 2024-25 (FY25), as it does not expect large receipts from asset sales - except some ongoing strategic ones, including IDBI Bank, which could spill over into next financial year. Also, it may drastically reduce its FY24 divestment target of Rs 51,000 crore. "We are still evaluating the Budget estimates for FY25. "New big-ticket asset sales are unlikely.
Under the current regulations, market regulator Sebi allows companies, which want to reduce share capital, to buy back their own equity from shareholders.
'This is not just the IREDA's IPO. It is the success of the ministry of new and renewable energy and of the renewable energy industry.'
"This money will be used for the revival and modernisation of the PSUs," BRPSE Chairman Nitish Sengupta said. He said instead of providing budgetary support, the option of land sale could be considered for the revival of units in some cases. Elgin Mills in Kanpur, Kolkata-based National Jute Mills, National Textiles Corporation and HMT are among those which have been permitted to sell their surplus lands.
Either the stake in these companies will be sold or they may partner private firms.
The Cabinet Committee on Economic Affairs on Thursday gave an in-principle approval for listing of unlisted profitable public sector companies with a net worth of more than Rs 200 crore (Rs 2 billion).
CPI(M) General Secretary Harkishen Singh Surjeet said the Leftists were not opposed to divestment in constantly loss-making PSUs, but wanted the proceeds to be invested in the social sector instead of utilising them to meet budgetary deficits.
Union Minister for Heavy Industries and Public Enterprises Praful Patel on Friday said his ministry was preparing a list for outright sale of sick and closed PSUs that have no potential for turnaround.
In a surprise move, the finance ministry has asked public sector companies to stop inviting competitive bids from banks for parking their surplus funds and directed them to give such business to state-run banks on nomination basis.
The divestment department has proposed that public sector units involved in mining ores alone should qualify for 'natural asset' status while imposing additional norms concering employment of labour.\n\n\n\n
The government on Wednesday said it will raise Rs 72,500 crore through disinvestment of PSUs, including listing of three railway PSUs IRCTC, IRFC and IRCON, and proposed merger and consolidation to create globally competitive public sector units.
People say Rahul Gandhi does not feel cold even in winter, this is because "he is wearing the shield of truth," the Congress leader said.
The government on Tuesday said it has received Rs 4,353 crore as dividend tranches from seven public sector enterprises, including Coal India and PFC. Government has respectively received about Rs 575 crore and Rs 2038 crore from Nuclear Power Corporation of India Ltd and Coal India Ltd as dividend tranches," Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey tweeted. Besides, about Rs 887 crore and Rs 653 crore have been received from Power Finance Corporation (PFC) and Hindustan Aeronautics Ltd as dividend tranches.
The run-up to next year's general elections might see some of the top executives of government-run companies getting unlucky. And, the period could become the best in the lives of those waiting in the wings.
Even with less than four dozen in number as listed entities, the PSUs account for over 20 per cent share of the overall market capitalisation of the more than 4,000 entities at the bourses.
Crude and gas supply concerns have eased amid reports that Israel and Hamas have struck a peace deal. The International Energy Agency estimates oil demand may drop slightly in calendar 24 but Opec probably has enough pricing power to maintain $80/ barrel Brent prices. Russia's share of India's crude imports remained strong at about 35 per cent in September 2023.
"Mock polls" are part of the first level check (FLC) process.
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