India is about to get one more Maharatna PSU!
According to a CNBC-TV18 report, quoting sources, Hindustan Aeronautics Limited (HAL) is on track to be upgraded from its current Navratna status to Maharatna by the end of the year.
But what does it mean to be a Maharatna? In this video, we break down the significance of this prestigious upgrade and what it means for HAL’s future.
But what does being a Maharatna mean? Basically, it gives the company more freedom.
A Maharatna PSU can invest up to 15% of its net worth in a project without seeking government approval. Plus, it can make foreign investments of up to 5,000 crore rupees without government nod.
For some context, Oil India was the last company to get this prestigious status, back in August last year.
At the moment, India has 13 Maharatna PSUs, including big names like BHEL, BPCL, Coal India, GAIL, HPCL, Indian Oil, NTPC, ONGC, Power Grid, SAIL, Oil India, REC, and PFC.
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