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PSUs

PSU refiner BPCL expects further cuts in oil OSPs as fuel margins drop

Indian refiners have also raised imports of Russian crude sold at discounts after Western nations imposed a raft of sanctions against Moscow for its invasion of Ukraine

PSU refiner BPCL expects further cuts in oil OSPs as fuel margins drop
Updated On : 20 Jul 2024 | 2:33 PM IST

MPS norm: FinMin may extend August deadline for PSBs, insurance firms

Five PSBs are planning to reduce government stake to less than 75%

MPS norm: FinMin may extend August deadline for PSBs, insurance firms
Updated On : 02 Jun 2024 | 9:50 PM IST

Listed CPSUs to pay record Rs 1.26 trillion equity dividend for FY24

State-run entities will distribute 26.8% of net profit as equity dividend in FY24 - lowest payout ratio in at least a decade

Listed CPSUs to pay record Rs 1.26 trillion equity dividend for FY24
Updated On : 01 Jun 2024 | 12:35 AM IST

General insurers expect premium income growth of 32% to Rs 3.7 trn by FY26

The general insurance industry is expected to earn a gross direct premium income (GDPI) of Rs 3.7 lakh crore by FY26, an increase of 32 per cent from Rs 2.8 lakh crore in FY24, a report said. While the growth for private insurers is expected to remain strong and that of PSU insurers is likely to remain moderate because of the weak capital position, ICRA said in a report. The profitability for private insurers is likely to improve, supported by better underwriting performance, it said. The combined ratio for PSU insurers will remain weak, thereby impacting the net profitability, the report said. The industry's GDPI saw a robust 15.5 per cent year-on-year (YoY) expansion in 2023-24, rising to Rs 2.79 lakh crore on the health segment, it said. Apart from this, the report said that the growth in the motor segment was healthy, supported by the increase in new vehicle sales (two-wheelers, or 2W, rose by 13.3 per cent YoY and passenger vehicles, or PVs, by 8.4 per cent YoY in 2023-24).

General insurers expect premium income growth of 32% to Rs 3.7 trn by FY26
Updated On : 27 May 2024 | 7:14 PM IST

Staging a comeback: PSU stocks climb peaks, but valuation cliff awaits

Analysts warn of price peaks amid government spending surge. Is the rally running out of steam? Brokerages sound caution as upside targets falter

Staging a comeback: PSU stocks climb peaks, but valuation cliff awaits
Updated On : 20 May 2024 | 11:20 PM IST

Large PSUs spend Rs 50,200 crore in capex in April FY25, says official

Large public sector companies have spent a little over Rs 50,200 crore towards capital expenditure in April FY25 alone, which is 6.46 per cent of their full fiscal target of Rs 7.77 lakh crore, an official said. The pace albeit is slower than Rs 54,177 crore capex spent in April FY24, about 7.3 per cent of the full year budget target of Rs 7.42 lakh crore. "The capex spending will pick up going forward. Also, the numbers for April are still provisional and will go up in the revised final numbers," the official told PTI. The capital expenditure during the first month of 2024-25 fiscal was driven by railways, road, and oil and gas sectors. The Indian Railways and sector PSUs spent Rs 26,641 crore in April, followed by National Highways Authority of India (NHAI) at Rs 6,645 crore. Among oil and gas sector PSUs, ONGC incurred capex of Rs 2,318 crore, Indian Oil Corporation (IOC) Rs 2,423 crore in the first month of the current financial year. Hindustan Petroleum Corp Ltd and Bharat .

Large PSUs spend Rs 50,200 crore in capex in April FY25, says official
Updated On : 12 May 2024 | 1:09 PM IST

Khanij Bidesh India likely to acquire lithium asset in Australia in FY25

Khanij Bidesh India Ltd (KABIL) hopes to acquire a lithium block in Australia this year, a top official said on Saturday. KABIL, a joint venture of three PSUs to scout for mineral assets overseas, has been working in Australia for the last year, Mines secretary V L Kantha Rao said. "KABIL (Khanij Bidesh India Ltd) has the responsibility to look at other countries. We have to increase our efforts in Australia. We will have to ensure that during this financial year, we target one more asset," Rao said at the inauguration of the registered office of KABIL here. KABIL is owned by three public sector undertakings -- National Aluminium Company Ltd (Nalco), Hindustan Copper Ltd (HCL) and Mineral Exploration and Consultancy Ltd (MECL). "I am hoping that it should be Australia because we have been working (there) for the last year," he explained. But unlike Argentina, Australia would be a bit costly so the paid-up capital of KABIL will have to be increased. KABIL has a paid-up capital of R

Khanij Bidesh India likely to acquire lithium asset in Australia in FY25
Updated On : 11 May 2024 | 3:56 PM IST

PSUs not in disarray, but thriving under Modi regime, says Sitharaman

Finance Minister Nirmala Sitharaman on Wednesday said PSUs have suffered under the Congress-led UPA government and previously neglected ones like, the Hindustan Aeronautics Limited (HAL), have seen a 'resurgence' under the Modi government. Rebutting allegations by the Congress party and its leader Rahul Gandhi that state-owned companies are in a disarray, Sitharaman said such claims are a textbook example of the pot calling the kettle black. In a post on X, the Minister said that under the Modi-government, public sector undertakings (PSUs) are thriving, benefiting significantly from the culture of professionalism infused in them along with increased operational freedom. PSUs have suffered under the Congress-led UPA government. PSUs that were previously neglected under the UPA government, such as Hindustan Aeronautics Limited, have seen a resurgence under the Modi government, she said. "Repeated claims from "the @INCIndia ecosystem and @RahulGandhi in particular that Public Sector .

PSUs not in disarray, but thriving under Modi regime, says Sitharaman
Updated On : 08 May 2024 | 12:22 PM IST

SBI Card introduces inaugural travel-centric core credit card 'MILES'

The card promises comprehensive travel benefits, including the conversion of Travel Credits to Air Miles and Hotel Points, enhanced rewards on all travel bookings, and access to airport lounges

SBI Card introduces inaugural travel-centric core credit card 'MILES'
Updated On : 23 Apr 2024 | 10:53 PM IST

Fundraising through bond placement hit all-time high at Rs 9.98 trn in FY24

Fund mobilisation through corporate bonds on private placement basis reached an all-time high of Rs 9.98 lakh crore in 2023-24, marking a surge of 17 per cent from the preceding fiscal, according to a release by primedatabase.com on Thursday. Prime Database Group Managing Director Pranav Haldea attributed the upswing to a surge in credit demand fuelled by strong economic growth. This came despite changes in taxation relating to debt mutual funds and expectations of lower borrowing costs. The highest fund mobilisation in 2023-24 (FY24) came from the All-India Financial Institutions/Banks category at Rs 4.68 lakh crore. This was in comparison to Rs 4.33 lakh crore raised in 2022-23, representing an increase of 8 per cent. The private sector (excluding banks or financial institutions) witnessed a 44 per cent jump, mobilising Rs 4.96 lakh crore compared to Rs 3.44 lakh crore in 2022-23. Government entities played a key role, collectively mobilising 39 per cent of the total amount, ...

Fundraising through bond placement hit all-time high at Rs 9.98 trn in FY24
Updated On : 18 Apr 2024 | 9:59 PM IST

Govt should leverage PSU rally to maintain the pace of capex: Axis AMC

A well-executed PSU divestment strategy could yield far-reaching benefits for the Indian economy

Govt should leverage PSU rally to maintain the pace of capex: Axis AMC
Updated On : 09 Apr 2024 | 10:57 PM IST

Over 60 metro stations co-branded with reputed companies: DMRC officials

The Delhi Metro Rail Corporation Saturday said more than 60 stations on its network have been co-branded with reputed corporates, Public Sector Undertakings and media companies, among others, to offer them publicity opportunity while earning revenue for DMRC. The stations include eight on Red Line, 14 on Yellow Line and 25 on Blue Line. DMRC officials said that around 150 metro stations are still available for co-branding across the network. "A total of more than 60 metro stations have been cobranded so far on the DMRC network. These stations are spread across the network and the popularity of this scheme reflects the potential of the co-branding scheme. "A number of very reputed corporates, PSUs, media companies, educational institutions have already associated themselves with the DMRC through this scheme," a senior DMRC official said. Almost all DMRC stations are at prominent locations near residential areas, markets, educational institutions etc. Therefore, branding opportuniti

Over 60 metro stations co-branded with reputed companies: DMRC officials
Updated On : 06 Apr 2024 | 8:06 PM IST

Dividend from PSUs exceed revised estimates target by 26% in FY24

Higher-than-estimated dividend collection can be attributed to the consistent dividend policy announced in 2020. It requires state-run companies to pay interim dividends against one annual payout

Dividend from PSUs exceed revised estimates target by 26% in FY24
Updated On : 31 Mar 2024 | 11:33 PM IST

Planning to set up public sector unit to provide tech: Salesforce India CEO

The US-based company is looking to tap various opportunities in the government sector in areas such as postal services, education, subsidies to the citizens and healthcare services, said Bhattacharya

Planning to set up public sector unit to provide tech: Salesforce India CEO
Updated On : 11 Mar 2024 | 11:49 PM IST

From downturn to dominance: PSUs reclaim 17.3% India's market glory

An analysis by Elara Capital indicates that the PSU sector performs well during election years

From downturn to dominance: PSUs reclaim 17.3% India's market glory
Updated On : 10 Mar 2024 | 10:39 PM IST

Rays Power Infra bags 3 solar projects totalling 520 MW from PSUs

Renewable energy solutions provider Rays Power Infra on Monday said it has secured three solar projects totalling 520MWp capacity from two big central public sector firms and one from a global developer. The combined order value for these projects underlines the company's commitment to advancing sustainable energy solutions, a company statement said. According to the statement, Rays Power Infra Ltd announces the acquisition of three orders in its solar EPC (Engineering Procurement Construction) business totalling 520 MWp, two from a renowned CPSU (Central Public Sector Undertaking) and another from a global renewable energy developer. These orders marked the company's entry into the Gujarat and Assam markets. This also positions the company as one of the key EPC players in 14 States in India, it stated. The company has submitted multiple bids for solar EPC projects in India, Mauritius, Liberia, Bangladesh, and Sierra Leone, with a cumulative value exceeding Rs 3,400 crore, and ...

Rays Power Infra bags 3 solar projects totalling 520 MW from PSUs
Updated On : 04 Mar 2024 | 4:16 PM IST

Commissioning of new capacities can fire up Oil India stock even more

The PSU has delivered steady results in the October- December quarter (Q3) of FY24 and it is looking at ramping up production in both oil and gas

Commissioning of new capacities can fire up Oil India stock even more
Updated On : 27 Feb 2024 | 11:20 PM IST

Optimal time to book profits in PSU funds: Will the rally continue?

High valuations, limited earnings upgrade prospects warrant caution

Optimal time to book profits in PSU funds: Will the rally continue?
Updated On : 23 Feb 2024 | 10:43 PM IST

GMDC approves capex of Rs 3,041 cr for FY25, targets Rs 800 cr this fiscal

State-owned Gujarat Mineral Development Corporation Ltd (GMDC) on Thursday said its board has approved a capital expenditure of Rs 3,041 crore for the next fiscal. The PSU had set a capex target of Rs 800 crore for the ongoing financial year. "GMDC is proud to announce the Board's approval of a Rs 3,041 crore capital outlay for the fiscal year 2025, reinforcing our commitment to substantial growth and sustainable development in the mineral sector," it said in a regulatory filing. With a strategic allocation of Rs 1,138 crore towards new lignite projects, this investment will catalyse the enhancement of its existing lignite projects while also promoting the development of new ventures. "GMDC dedicates Rs 629 crore to expedite the operationalisation of the allotted coal blocks in Odisha," it said. Recognising the role of critical minerals in the global economy, the company has set aside Rs 462 crore for the expansion and modernisation of its metal projects. "This initiative is ...

GMDC approves capex of Rs 3,041 cr for FY25, targets Rs 800 cr this fiscal
Updated On : 22 Feb 2024 | 5:00 PM IST

Valuation adrift: Uncharted course of low-float PSU rally, shows data

10 PSUs, with public shareholdings below 14%, ride the current, rallying 76% to 4.5 times

Valuation adrift: Uncharted course of low-float PSU rally, shows data
Updated On : 18 Feb 2024 | 9:47 PM IST