Saturday, January 31, 2015

Govt to focus on smaller PSUs for divestment in FY16

AFTER completing two successful disinvestment moves in SAIL and Coal India Limited, the government is set to revamp its strategy for disinvestment in public sector units, according focus on stake sales in small units rather than in a few big ticket firms, says a media report.
According to the new strategy, the finance ministry is already working on a list of nearly 12 PSUs including...

Friday, January 30, 2015

Oil India Limited is hiring; 28 various posts up for grabs

PSU major Oil India Limited (OIL) has invited application for special recruitment to 28 various posts for SC/ST/OBC category only. The candidates eligible for the post can apply through prescribed format before February 2. One of the top five energy PSUs in India, the Navaratna company epitomises...

Thursday, January 29, 2015

Will Coal India divestment hit the jackpot tomorrow for NDA Government?

IN ITS second major disinvestment push, the NDA government is all set to go for the biggest share sale ever by offloading up to 10 percent stake in Coal India on Friday, that is January 30. This will bring up to Rs 24,000 crore at current market prices. The floor or minimum sale price for the offer will be announced on January 29. The OFS will start from January 30.
However, the Centtre's move has not been welcomed...

Wednesday, January 28, 2015

SBI to sell share, to mop up Rs 15,000 cr

INDIA's largest lender, State Bank of India (SBI) plans to raise share capital of up to Rs 15,000 crore through an equity offering to support loan growth and meet capital adequacy requirements, say media reports.
The public sector bank will seek...

Tuesday, January 27, 2015

Stake sale in IOC, BHEL and NALCO: Govt seeks merchant bankers' assistance

Finance Minister Arun Jaitley 
THE Government has sought merchant bankers to help it in disinvestment of three PSU majors: IOC, BHEL and NALCO. The Centre aims a disinvestment target of Rs 43,425 crore for this fiscal, says a media report.
The stake sale in these companies would fetch about Rs 13,000 crore to the exchequer.
Centre wants to sell its...

Saturday, January 24, 2015

MK Goel is now regular PFC Chairman; appointed for 5 years

PFC CMD KM Goel
FINALLY, Power Finance Corporation Limited has got its regular CMD (chairman and managing director) in the form of MK Goel. He will serve the PSU for a period of five years or till his superannuation, whichever is earlier.
MK Goel has assumed the charge of CMD, PFC with effect from January 22.
Earlier, Goel was holding the additional charge of CMD, PFC since September 23, 2013 in addition to his regular charge of...

Friday, January 23, 2015

SAIL to make foreign foray, plans Rs 10K-cr plant in Iran

CS Verma, CMD, SAIL
MAKING its overseas foray, state-run steel major SAIL has proposed to set up a nearly 2-million-tonne integrated steel plant in Iran at an estimated cost of Rs 10,000 crore, which will be India’s first major investment in the country.
For the greenfield venture, SAIL has asked the Iranian government to provide 500 hectares of land...

Thursday, January 22, 2015

NBCC joins hands with DDA to build 100-storey building in Delhi

Anoop Kumar Mittal, CMD, NBCC
STATE-owned developer National Buildings Construction Corporation (NBCC) is planning to construct the Capital’s first 100-storey building in Karkardooma, East Delhi, over the next three to four years, says a media report .
Delhi Development Authority recently awarded 75 acres of land in Karkardooma to NBCC for joint development.
NBCC is now in the process of...