PSU NEWS INDIA

National Aluminium Company Limited (NALCO), the Navratna PSU, Under Ministry of Mines, Govt. of India, has bagged the Performance Excellence Award, instituted by the Indian Institution of Industrial Engineering (IIIE). On behalf of the company, Shri S.C. Padhy, Director (HR), received the award in Dubai, during the Inaugural Function of 19th CEOs Conference, on 8th October last

Foreign institutional investors (FIIs) sold equity shares worth nearly Rs 5,000 crore in public sector undertakings (PSUs), including banks, in the July–September quarter. Shareholding pattern data filed by 47 PSUs with stock exchanges reveal FIIs offloaded a net Rs 4,886 crore in equities during the quarter, second (Q2) of the financial year. They sold shares worth Rs 8,375 crore of 31 companies and bought shares amounting to Rs 3,489 crore. The calculation is based on a company’s average market price in Q2, as the exact date of share transaction by these investors could not be ascertained. The S&P BSE Sensex had slipped six per cent during the quarter, its sharpest quarterly decline since December 2011. Oil and Natural Gas Corporation (ONGC), State Bank of India (SBI), GAIL, NTPC and Container Corporation of India were some of the frontline stocks sold. However, the FIIs bought equity shares of Bharat Petroleum Corporation, Bharat Electronics and Indian Oil Corporation.

The Congress Party on Sunday alleged that many nationalised and foreign banks were also involved in the forex scam after the Bank of Baroda's branch in Ashok Vihar was caught making 8,667 forex transactions. "Strict enquiry should be done in this case, but this is not limited to Bank of Baroda only. It is in my knowledge that Hawala transactions are being done in both nationalised banks and foreign banks across the country," Congress leader Rashid Alvi told ANI. "Prime Minister Narendra Modi should look into this matter and act on it strictly," he added. Alvi also claimed that he has enough details on the allegations he was levelling against the banks. "I have the details and I would be sending them to the Prime Minister Modi in written. Strict action should be taken against them and the licenses of private banks should be cancelled," he added. The Central Bureau of Investigation (+CBI) had earlier raided the Bank of Baroda's branch here to inve

Shares of sugar companies are trading higher for the second straight day after commodity prices have jumped 24% in the past two months on expectations of improved demand during the festival season in the domestic market and on global forecasts of shortage during the next crushing season. Dhampur Sugar Mills, Shree Renuka Sugars, Bajaj Hindustan Sugar, Balrampur Chini Mills, Sakthi Sugars, Dwarikesh Sugar Industries, Thiru Arooran Sugars, Dalmia Bharat Sugar and Industries were trading higher in the range of 5% to 20% on the BSE. Most these stocks had gained up 16% on Tuesday. According to Business Standard reports, Global tracking agencies have forecast sugar supply to be deficient in 2015-16. The International Sugar Organisation has forecast a deficit of 2.5 million tonnes and the US Department of Agriculture reckons the shortage will be 3.8 million tones. India, too, has cut its production forecast to 27 million tonnes in 2015-16, 2 per cent lower than last