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Cpse News

GAIL declares record dividend for FY22; total payout to be Rs 2,220 crore
Business

GAIL declares record dividend for FY22; total payout to be Rs 2,220 crore

Based on the current shareholding of the government of India (51.45 per cent), a dividend of Rs 1,142.29 crore shall be paid to the government and Rs 1,077.90 crore to other shareholders

Disinvestment mop-up at Rs 50,298 cr in FY20, govt misses revised estimates target of Rs 65,000 cr
Business

Disinvestment mop-up at Rs 50,298 cr in FY20, govt misses revised estimates target of Rs 65,000 cr

The government has missed the collection target for the current financial year from CPSE disinvestment set in the Revised Estimates of Budget by about Rs 14,700 crore

Govt committed to revival of BSNL for public service, fairness; not possible to retain all employees: Ravi Shankar Prasad
Business

Govt committed to revival of BSNL for public service, fairness; not possible to retain all employees: Ravi Shankar Prasad

BSNL had a workforce of 1,55,296 employees as on 1 October 2019. The employee cost was 74 percent of the total revenue for the 2018-19 of BSNL, he said.

BSNL, Air India, MTNL highest loss-making PSUs in FY19; ONGC most profitable: CPSE survey
Business

BSNL, Air India, MTNL highest loss-making PSUs in FY19; ONGC most profitable: CPSE survey

ONGC, Indian Oil Corporation and NTPC were the top three profitable PSUs in 2018-19, whereas BSNL, Air India and MTNL incurred highest losses for a third consecutive year, according to a survey tabled in Parliament on Monday

Govt plans to garner Rs 10,000 cr from seventh tranche of CPSE ETF by end of current month
Business

Govt plans to garner Rs 10,000 cr from seventh tranche of CPSE ETF by end of current month

The government is planning to raise over Rs 10,000 crore from CPSE ETF's seventh tranche that would be launched by the end of the current month, according to market sources

Cabinet gives nod to launch Bharat Bond ETF; move to create additional source of funding for PSUs, state-run organisations
Business

Cabinet gives nod to launch Bharat Bond ETF; move to create additional source of funding for PSUs, state-run organisations

Further, Bond ETF trading on the exchange will help in better price discovery of the underlying bonds.

Govt gives go-ahead to biggest privatisation drive; to sell stake in BPCL, SCI, Concor to help bridge a widening fiscal gap
Business

Govt gives go-ahead to biggest privatisation drive; to sell stake in BPCL, SCI, Concor to help bridge a widening fiscal gap

In the biggest privatisation drive-ever, the Union Cabinet on Wednesday approved sale of government's stake in blue-chip oil firm BPCL, shipping firm SCI and onland cargo mover Concor

Centre likely to consider proposal to reduce stake below 51% in CPSEs soon; Cabinet may decide on merger of state-run insurance firms
Business

Centre likely to consider proposal to reduce stake below 51% in CPSEs soon; Cabinet may decide on merger of state-run insurance firms

The Budget for 2018-19 had proposed the merger of three public sector general insurance companies and subsequent listing of the merged entity on stock exchanges.

Tough task ahead for govt to meet divestment target, global manufacturing sector shrinking; all this and more on Moneycontrol Pro
Business

Tough task ahead for govt to meet divestment target, global manufacturing sector shrinking; all this and more on Moneycontrol Pro

Divestment through the exchange-traded funds route of CPSE and Bharat 20 and a small IPO from railway ticketing company IRCTC is unlikely to help the government meet its target.

Finance Ministry asks large central public sector enterprises to make investments to pump liquidity
Business

Finance Ministry asks large central public sector enterprises to make investments to pump liquidity

The finance ministry on Friday asked large central public sector enterprises (CPSEs) to stick to their capital expenditure plan which will increase liquidity in the market and boost economic growth

Govt to launch sixth tranche of CPSE Exchange Traded Fund on 18 July; to raise up to Rs 10,000 cr
Business

Govt to launch sixth tranche of CPSE Exchange Traded Fund on 18 July; to raise up to Rs 10,000 cr

The government is planning to raise up to Rs 10,000 crore from the sixth tranche of CPSE ETF which would be launched on 18 July, an official said

Union Budget 2019: Govt working on tax sops for retail investors in CPSE, Bharat-22 ETF
Business

Union Budget 2019: Govt working on tax sops for retail investors in CPSE, Bharat-22 ETF

The government is working on a proposal to extend tax benefits to retail investors in its two exchange traded funds - CPSE and Bharat-22 ETF

Govt plans to divest up to 15% in RITES via OFS, eyes to raise about Rs 700 cr; DIPAM to assist in sale process
Business

Govt plans to divest up to 15% in RITES via OFS, eyes to raise about Rs 700 cr; DIPAM to assist in sale process

At the current market price, sale of 15 percent stake in RITES would fetch around Rs 700 crore to the government.

Finance Ministry reworking strategic sale procedure to ensure outright sale of central public sector enterprises
Business

Finance Ministry reworking strategic sale procedure to ensure outright sale of central public sector enterprises

Currently, there is no set timeline for concluding strategic sale of a state-owned company and the entire process, in some cases, drags on for months, if not years.

Three Jharkhand districts top in NITI Aayog's development ranking; excel in health, nutrition parameters too
Business

Three Jharkhand districts top in NITI Aayog's development ranking; excel in health, nutrition parameters too

The ranking released by NITI Aayog CEO Amitabh Kant on Wednesday showed that these three districts of Jharkhand have also performed well in 'health and nutrition' parameters.

Govt to raise up to Rs 14,000 cr through 4th tranche of CPSE ETF; issue to open next week
Business

Govt to raise up to Rs 14,000 cr through 4th tranche of CPSE ETF; issue to open next week

The government has already raised Rs 11,500 crore in the earlier three tranches of the ETF, which functions like a mutual fund scheme.

Finance ministry eyes Rs 8,000 cr through CPSE exchange-traded fund, issue likely by November-end
Business

Finance ministry eyes Rs 8,000 cr through CPSE exchange-traded fund, issue likely by November-end

This would be the fourth tranche of the CPSE ETF, which comprises shares of 10 bluechip companies.

Finance ministry banking on CPSE acquisitions, buybacks to meet FY19 disinvestment target
Business

Finance ministry banking on CPSE acquisitions, buybacks to meet FY19 disinvestment target

The Finance Ministry is banking on merger and acquisitions among CPSEs and share buybacks by state-run companies to meet the Rs 80,000-crore disinvestment target for the current fiscal.

EIL to bid to buy-out govt stake in PDIL; does not give details stating confidentiality
Business

EIL to bid to buy-out govt stake in PDIL; does not give details stating confidentiality

Engineers India Ltd (EIL) said its board of directors in a meeting on Thursday "considered the proposal for acquisition of 100 percent paid-up share capital of PDIL from President of India."

Government clears revised norms for time-bound closure of sick public sector units
Business

Government clears revised norms for time-bound closure of sick public sector units

The government on Wednesday approved revised guidelines for time-bound closure of sick and loss making central public sector enterprises and the disposal of their movable and immovable assets.