Tuesday, August 23, 2016

NTPC Q1 profit up by 4% on higher power output

NTPC reported a 4-per cent year-on-year (YoY) increase in its standalone net profit at Rs 2,369.53 crore during the April-June quarter. This was possible due to higher power production and better utilisation of coal-based power plants. Gross sales during the period was up 11.34 per cent at Rs 18,940 crore.
State-owned power producer, which accounts for over one-fifth of country’s installed thermal capacity, recorded a 10 per cent...

Monday, August 22, 2016

Merger will add Rs 8 lakh crore to assets: SBI

INDIA's biggest lender State Bank of India (SBI) is set to gain Rs 800,000 crore ($120 billion) in assets following its merger with five associate banks and Bharatiya Mahila Bank.
“The merger will catapult the bank into the top 50 banks globally and is in furtherance of the bank’s mission statement to be of service in the remotest parts of India. The merger will...

Saturday, August 20, 2016

BHEL to recruit 294 Graduate and Technician Apprentice, Engineering Posts

MAHARATNA PSU Bharat Heavy Electricals Limited (BHEL) invited applications for recruitment to the post for Graduate Apprentice and Technician Apprentice. The candidates eligible for the post can walk in for the interview at the location specified from 16 August 2016 to  31 August 2016 (09 AM). The PSU’s greatest strength is the highly-skilled and committed workforce of 47,525 employees. Every employee...
is given an equal opportunity to develop himself/herself and grow...

Friday, August 19, 2016

No smooth sailing: SAIL staff not to get perks as part of cost-cutting

THIS won’t bring any cheers among the staff of the state-owned PSU SAIL. The long downturn in the steel sector has forced public sector unit SAIL to opt for some tight measures including cutting down on perks for employees.
In the latest advisory, the personnel department has written to the marketing department employees, asking them to shun air travel and instead opt for rail journey if the destinations...

Thursday, August 18, 2016

Will PM Modi’s ID speech carry hope for ailing PSUs?

Prime Minister Modi 
PRIME Minister Narendra Modi's Independence Day speech from the ramparts of historic Red Fort has been hailed for launching an affront on Pakistan for sponsoring terror. But for ailing PSUs his speech carried ray of light for revival. His reference to loss-making public-sector units now making profits could be an indication that this government has greater confidence in reviving loss-making public-sector enterprises (PSUs) rather than selling them.
In his ID speech, the Prime Minister said: “PSUs in our country are merely...

Wednesday, August 17, 2016

PSU bank staff underpaid at top: RBI Governor Rajan

RBI Guv Rajan
PITCHING strongly for ending government role in top-level appointments at public sector banks, RBI Governor Raghuram Rajan has suggested empowering their boards to take all major governance decisions freely without having multiple "constituencies to satisfy".
The governor also called for levelling huge imbalances in pay scale of public sector bankers. He said that their top management should be paid higher instead of the present state of overpaying the bottom and underpaying the top which makes it difficult for them to attract...

Tuesday, August 16, 2016

Panel pitches for defence PSU status to India’s first PSU

A PARLIAMENTARY panel has asked the Department of Telecom (DoT) to take up once again the proposal to grant defence PSU status to Indian telephone Industries (ITI) with the Department of Defence Production.
ITI was established in 1948 as India's first PSU. Ever since, as a pioneering venture in the field of telecommunications, it has contributed to 50% of the present national telecom network.
Expressing disappointment due to “lack of follow-up action”, the Standing Committee on IT has...

Saturday, August 13, 2016

Mazagon Dock Shipbuilders Ltd is hiring; 1125 Technical posts up for grabs

MAZAGON Dock Shipbuilders Limited invited applications for recruitment to the posts of Technical Staff and Operatives in various trades in skilled and semi-skilled grades for appointment on Contract Basis for a maximum period of two years.
Mazagon Dock Shipbuilders Limited is one of the leading shipbuilding and offshore fabrication yards in India. The Yard established in the 18th century, has...