Tuesday, January 23, 2018

HPCL to retain brand, autonomy under ONGC: Report

ONGC, India's biggest oil and gas producer, will retain HPCL as an independent group arm and continue with the PSU's brand after acquiring the government's stake in the refiner-retailer. "HPCL is a good, professionally-run company and will continue to remain so. We also do not have any plan to tinker...

Monday, January 22, 2018

Good news! Around 9,500 jobs up for grabs in SBI

GOOD news for job seekers! Country's largest lender State Bank of India (SBI) will be hiring nearly 9,500 junior assistants for customer support and sales functions. This is one of the largest recruitment drives by SBI since 2013. It comes at a time when the bank's employee headcount has gone down by over 10,000 during the current fiscal owing to attrition...

Saturday, January 20, 2018

Govt will collect Rs 90,000 crore disinvestment: Report

NDA Government is likely to collect a record disinvestment receipts of over Rs 90,000 crore this financial year on the back of its stake sale in Hindustan Petroleum Corporation Limited (HPCL) to ONGC. The collection will be almost twice the earlier record of over Rs 46,000 crore that was achieved last year, prompting the government to eye Rs 1 lakh crore or more from stake sale in the next financial year, says a media report.
The exact amount to be raised through HPCL stake sale will be cleared over the next few weeks. It will depend on the valuation being undertaken by the...

Thursday, January 18, 2018

Govt to use land of sick PSUs for affordable housing: Report

CENTRE may use land of sick PSUSs for affordable housing projects. In a bid to provide a big push to affordable housing, land available with six loss-making PSUs has been identified to give momentum to Prime Minister Narendra Modi's initiative for the urban poor.
State-run construction company NBCC Ltd. will develop some of the land under the Pradhan Mantri Awas Yojana. The six CPSEs, including...

Wednesday, January 17, 2018

GAIL to extend Urja Ganga gas pipeline to NE

STATE-owned GAIL plans to extend the ambitious Urja Ganga natural gas pipeline project to Guwahati to connect the north-eastern region with grid, Petroleum Minister Dharmendra Pradhan said recently.
GAIL is laying a pipeline from Jagdishpur in Uttar Pradesh to Haldia in West Bengal and onwards to Bokaro in Jharkhand and Dhamra in Odisha by 2022 at a cost of Rs 12,940 crore.
Speaking at a seminar organised by industry body Ficci, Pradhan said GAIL has "proposed to extend the Jagdishpur– Haldia and Bokaro–Dhamra pipeline to Guwahati".
The Maharatna PSU has done a feasibility study...

Tuesday, January 16, 2018

Air India to be split into 4 separate entities for sale: Minister

MoS Civil Aviation Sinha
CENTRE will break up debt-burdened national carrier Air India into four separate companies and offer to sell at least 51 percent in each of them as part of a disinvestment proposed by Prime Minister Narendra Modi. The core airline business comprising Air India and Air India Express, the low-cost overseas arm, will be offered as one entity, and the process...

Monday, January 15, 2018

Rails supplied to railways are defect free: SAIL

SAIL has said the rails supplied to railways are totally “defect free” and processing of tracks at the PSU follows highest level of quality control.
The statement comes in the wake of railways inviting a global tender to plug the shortfall in supply of rails from Steel Authority of India Ltd (SAIL).
“Production of rails is a complex multi stage process. The processing...

Friday, January 12, 2018

Step up performance to match private players: Parl panel to SAIL

A PARLIAMENTARY panel has said PSU steel giant SAIL must adopt necessary measures to remove all bottlenecks and focus on overall improvement in performance in view of competition from private players. Observing that Steel Authority of India Ltd (SAIL) achieved its highest ever hot metal production at 15.73 million tonnes (MT) during 2016-17, the Standing Committee on Coal and Steel, chaired by Rakesh Singh, said though physical parameters have improved, it should step up efforts.
"SAIL should step up the good efforts for overall...