MOIL, a Miniratna Category-I PSU, produced 8.02 lakh tonne of manganese ore during the year 2012-13 (April to December, 2012), and this is 6.13 percent higher as compared to corresponding period last year. The company achieved a total sales turnover of Rs 700.30 crore during the period. It earned profit before tax
Tag: PSU
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ONGC proposes Rs 350 bn investment in FY14
In 2013-14, Oil and Natural Gas Corp (ONGC) plans to invest Rs 35,049.23 crore, which is 4 per cent higher than the revised capital expenditure of Rs 33,577 crore in the current fiscal year, Union Budget document shows. The state-run oil and gas explorer plans to fund the investment entirely through internal resources in 2013-14. T
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Govt sticks to its disinvestment drive
The central government, which has so far managed to get over Rs 21,000 crore through selling part of its stake in five state-run firms, expressed commitment to divest stake in some more firms before the end of 2012-13. Now, with just 37 days left for the fiscal year to end, it has come out with a final list. the finance ministry anno
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Moily stresses on fuel price hike
Union Oil Minister M Veerappa Moily underscored the need to raise prices of fuel in the domestic market given the huge payment for imports of crude oil into India. Speaking to reporters on the sidelines of the signing of a gas transmission agreement between GAIL (India) and Karn
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Moily stresses on fuel price hike
Union Oil Minister M Veerappa Moily underscored the need to raise prices of fuel in the domestic market given the huge payment for imports of crude oil into India. Speaking to reporters on the sidelines of the signing of a gas transmission agreement between GAIL (India) and Karn
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Govt set to award Maharatna status to BHEL, GAIL
The high-level secretaries' panel headed by Cabinet Secretary Ajit Kumar Seth approved the proposal to award BHEL and GAIL the coveted Maharatna status. The status would give these public sector units greater financial autonomy. Agency reports indicate that the central government would issue formal orders to this e
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Govt to send slew of proposals to cabinet
Union government would send a series of proposals to the cabinet. Among the proposals are the plan to launch a public sector undertaking (PSU) ETF (exchange traded fund). The cabinet would also receive a proposal to ease the offer for sale (OFS) norms to facilitate easier trades through this mechanism. The ministry is also moving a cabinet note to use the disinvestment proceeds for capitalisation of state-owned bank
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Finance ministry hopes to attain disinvestment target
The union finance ministry hopes to meet the target of raising Rs 30,000 crore through the disinvestment of the government stake in public sector undertakings in 2012-13. But some financial market observers feel that the market may not have the capacity to absorb the huge avalanche of shares in such a short span. They point out that divestment in shares of Oil and Natural Gas Corporation (ONGC) last March had no takers and
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Govt plans to offload stake in Oil India in mid January
During the middle of January, government plans to launch the divestment of its 10 per cent stake in Oil India. The government plans to mop up around Rs 2,700 crore by offloading its 10 per cent stake in the firm at the p
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IDFC eyes stake in Gurgaon expressway project
Infrastructure Development Financial Company (IDFC), which is one of the lenders for the Delhi-Gurgaon expressway project, is in the process of picking up stake in the project, reports suggest
The concessionaire of the project-- Delhi-Gurgaon Super Connectivity (DGSCL) --can reduce its share from 100 percent to 26 percent two years after tolling starts and has to report to NHAI in such case, according to an agreement with NHAI.
IDFC is the lead financial institution in a consortium of lenders