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State-run companies are emerging as top long-term wealth creators again, with 26 PSUs featuring among the top 100 between April 2020 and March 2025. This marks a significant turnaround from previous years, driven by factors like government divestment policy changes and a focus on sectors like defence and utilities. Source link
The finance ministry has directed public sector banks and financial institutions, including insurance companies, to ensure prompt reporting of vigilance-related matters concerning whole-time directors (WTDs), citing repeated instances of delayed or incomplete disclosures, PTI reported.In an advisory issued by the Department of Financial Services (DFS) earlier this month, the ministry said adverse information about board-level…
HAL is also the ‘Best All-round Wealth Creator’stock. (AI image) Hindustan Aeronautics or HAL has emerged as the most consistent and all-round wealth creator stock in the span of the last five years, according to a new report by Motilal Oswal Financial Services Limited. The defence Public Sector undertaking (PSU) stock has outperformed the Nifty…
Public sector banks (PSBs) have written off loans worth Rs 6.15 lakh crore over the last five-and-a-half years, with the exercise aimed at cleaning up balance-sheets rather than waiving borrower liabilities, Parliament was informed on Monday, PTI reported.“As per Reserve Bank of India (RBI) data, PSBs have written-off an aggregate loan amount of Rs 6,15,647…
NEW DELHI: The finance ministry is considering an earlier proposal to merge the three state-owned general insurance companies into a single entity, following their improved financial health, to achieve better efficiency and scale.Government infused Rs 17,450 crore between 2019-20 and 2021-22 in three PSU general insurance companies, namely Oriental Insurance, National Insurance and United India…
The Finance Ministry is once again examining the merger of three state-owned general insurance companies—Oriental Insurance, National Insurance and United India Insurance—after an improvement in their financial condition, PTI reported citing sources. The move revives a proposal first announced in the 2018-19 Budget to consolidate the three entities into a single insurer to improve efficiency…
PSU bank stocks have made a blockbuster comeback this year, collectively adding nearly Rs 2.3 lakh crore to their market capitalisation. This surge has triggered a fresh debate among investors: is this rally a short term trade or the beginning of a new bullish wave?Since August, the Nifty PSU Bank Index has climbed almost 20%,…
Representational AI image NEW DELHI: Reliance Industries and state-run refiners are looking at suspending Russian crude imports after the US on Wednesday sanctioned Rosneft and Lukoil, the largest exporters of those barrels.Reliance, the single-largest Indian consumer of Russian oil, will be the biggest loser as it buys most of those barrels directly from Rosneft under…
The Indian stock market ended in green on Monday, with benchmark indices extending their winning streak for the fourth consecutive day, buoyed by strong quarterly results from major lenders and a rebound in global risk appetite.The BSESensex settled at 84,363.37, rising 411.18 points or 0.49 per cent, while the NSE Nifty50 closed at 25,843.15, up…
Public sector banks have demonstrated stronger performance and resilience recently, with credit growth surpassing that of private banks, Financial Services Secretary M Nagaraju said on Tuesday. He attributed the trend to improved due diligence, enhanced credit underwriting standards, and better monitoring of project loans.Speaking at the inauguration of Punjab & Sind Bank’s MSME Sports Cluster…
