Govt gives ONGC best financial performance award

ONGC, Coal India (CIL) and NMDC are among the state-owned companies that were awarded by the government for best performance in different categories.

The Department of Public Enterprises (DPE) Secretary, Bhaskar Chatterjee, who gave away these awards here yesterday stressed on giving more operational freedom to PSUs.

Best financial performance award in Maharatna and Navaratna category was given to ONGC. In Miniratna category, the same award has been given to Goa Shipyard.

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Chatterjee, who was in award function, organised by Indian Chamber of Commerce said the government has been giving more financial and administrative autonomies to PSUs over the years as the list of Mini-Ratna, Navratna and Maharatna is increasing.

He gave company of the year award in Maharatna category to CIL. Coal India CMD N C Jha received the award.

The same awards for the Navaratna category have been given to NMDC and Oil India.

Good Corporate Governance award in Maharatna and Navaratna category was given to ONGC. A K Hazarika, CMD, ONGC received the award.

In Miniratna category, the same award was given to Chennai Petroleum Corporation Ltd. K Balachandan MD, CPCL received the award.

As on 30 August, 50 Central Public Sector Enterprises (CPSEs) listed on the stock exchanges contributed about 22 per cent of the total market capitalisation.

The CPSE with the highest market capitalisation is Coal India at Rs 2,36,832 crore (BSE) and Rs 2,37,243 crore (NSE) as on 31 August.

PTI