If a person who wishes to make a comfortable way of investing/trading in the stock market, then he should be thoroughly aware of a trading or investment plan. Along with a good trading plan, a trader should be well updated with the moving market situations to get success in the stock market. For this, he […]
The Weekend: On the Week ended Friday, 16 March, the BSE Sensex dived 509.54 points as its biggest single day fall since Feb first week, owing to a major sell-off accompanied by political concerns after the TDP decided to leave the NDA and moved a no-confidence notice against the govt. For the third consecutive week, […]
The Market Regulator has considerably raised the exposure limit under exchange-traded currency derivatives trading for residents and FPIs to USD 100 million across all currency pairs involving the rupee. This step will facilitate entities engaged in Forex transactions to manage currency risks in in good health. The decision comes after the RBI in February raised these limits, […]
Equity indices logged modest losses in Thursday’s in volatile trade with the BSE Sensex falling 150.20 points at 33,685.54, while the NSE Nifty index fell 50.75 points at 10,360.15. The Index heavyweight Reliance Industries dropped. Oil & gas stocks also fell. Selling pressure emerged in sectors such as Oil & Gas, FMCG, Metal, and power […]
Indian Oil Corporation Limited (IOCL) Oil and Natural Gas Corp (ONGC) and Coal India Limited (CIL) have emerged as the most profitable Central public sector undertakings (CPSU) for 2016-17. On the other hand, BSNL, Air India and MTNL registered the highest losses, as per Public Enterprises Survey 2016-17 tabled in Parliament on Tuesday said.
The top three profitable state-owned companies contributed 19.69%, 18.45% and 14.94%, respectively, to the total profit earned during 2016-17.
The Survey indicated that the number of loss-making central enterprises have continued to jump for the third consecutive year, growing to 82 in the last financial year.
The net loss posted by all 82 loss-making central companies stood at Rs 250.45 billion, with BSNL, Air India and MTNL incurring 55% of the overall losses. The loss making public sector undertakings also included Hindustan Photo Films Manufacturing Company Limited and Rashtriya Ispat Nigam Limited (RINL).
On an aggregate, the net profit of 257 public sector undertakings in the country grew 11.7% to Rs 1,27,602 crore in 2016-17, corresponding to 11.1% growth last year.
Oil companies registered a sharp growth in profits on account of moderation in oil prices and the govt’s decision to give them full resistance from under-recoveries. This resulted in Hindustan Petroleum Corporation Limited (HPCL) and Mangalore Refinery and Petrochemicals Limited entering the coveted list of the top ten profit-making PSUs. The oil PSUs jointly contributed 47% of the total profit by PSUs in 2016-17, up from 37.4% the year before.