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Prime Minister Narendra Modi while highlighting his government's performance since 2014, said that people's confidence on Public Sector Undertakings are improving and their profits have risen to Rs 2.5 lakh crore

PSU shares are giving good returns now: PM Narendra Modi

<h2>Prime Minister Narendra Modi while highlighting his government's performance since 2014, said that people's confidence on Public Sector Undertakings are improving and their profits have risen to Rs 2.5 lakh crore</h2>

Prime Minister Narendra Modi while replying to the Motion of Thanks to the President's Address in Rajya Sabha said Public Sector Undertakings (PSU) shares are giving good returns now. He further mentioned that people's confidence is improving in PSU shares.
<h3>PSU net worth&nbsp;</h3>
Comparing the net worth of PSU shares in 2014, he said that the worth has raised to Rs 17 lakh crore. In 2014, there were 234 PSUs and today after 10 years we have 254 PSUs, their profits have risen to Rs 2.5 lakh crore, he added.
Also Read: <a href="https://www.editorji.com/business-news/markets/lic-surpasses-sbi-to-emerge-as-most-valuable-psu-with-a-5-8-lakh-crore-market-cap-1705485332291">LIC surpasses SBI to emerge as most valuable PSU with a ₹5.8 lakh crore market cap</a>
He also took a dig at Congress saying the party destroyed Hindustan Aeronautics and Air India. He further added that BSNL is now moveing towards Made in India 4G and 5G, while HAL is showing record revenue generation
"I was born in independent India and my dreams are independent. Congress said we sold PSUs and destroyed them. I want to ask them who destroyed BSNL and MTNL? Recall the state of Hindustan Aeronautics under Congress. They destroyed HAL and Air India. Congress party and UPA cannot run away from their failure. Today, the BSNL that you destroyed in it is moving towards Made in India 4G and 5G. HAL is showing record revenue generation and it has become Asia's largest helicopter manufacturing factory. We have turned around the story. Today LIC's shares are breaking records," said PM Modi.
&nbsp;

Alka Mittal, currently the director of human resources at energy major ONGC, has been given the additional charge of chairman and managing director.

Alka Mittal becomes the first woman to head ONGC 

Alka Mittal joined ONGC in as a Graduate Trainee in 1985. She will hold the post of CMD for six months or until a regular appointment for the position is announced, whichever is earlier.

Meet Alka Mittal, First woman chief of ONGC

Alka&nbsp;Mittal, who is the senior-most director of&nbsp;ONGC has been given the additional charge of Chairman and Managing Director&nbsp;of the company.

Alka Mittal, currently the director of human resources&nbsp;at energy major&nbsp;Oil and Natural Gas Company&nbsp;(ONGC), has been given the additional charge of chairman and managing director.
This makes <a href="https://www.editorji.com/business-news/alka-mittal-becomes-the-first-woman-to-head-ongc-1641262814295" target="_blank">Alka&nbsp;Mittal</a>&nbsp;the first woman to head India's most valuable PSU, incidentally she was also the first woman to hold the charge of a full-time director in ONGC&rsquo;s history.
Alka&nbsp;Mittal&nbsp;joined ONGC&nbsp;in&nbsp;as a Graduate Trainee in 1985. She will hold the post of CMD for six months or until a regular appointment for the position is announced, whichever is earlier.
Also watch|&nbsp;<a href="https://www.editorji.com/business-news/mamaearth-is-now-worth-a-billion-dollars-meet-the-first-unicorn-of-2022-and-its-already-profitable-1641208065830" target="_blank">Mamaearth is now worth a billion dollars! Meet the first unicorn of 2022 and its already profitable</a> <a href="https://www.editorji.com/story/ongc-reports-50-fall-in-net-profit-1581922724918" target="_blank">ONGC </a>has not had a full-time chairman and managing director since former chief Shashi Shanker retired on March 31, 2021. Mittal&nbsp;is the senior-most director at ONGC&nbsp;and the announcement of her additional charge was made by the company .

Market on Wednesday ended on a flat note for the second consecutive day. The 30-share index ended at 51,849, while the broader Nifty 50 index ended at 15,576.&nbsp;Among sectors, strong gains were seen in PSU Banks, metals, auto and realty indices, while Nifty FMCG and Nifty IT ended in the red.&nbsp;
On the flip side,&nbsp;ITC&nbsp;was the worst performer, falling nearly 3 per cent. It was followed by&nbsp;Tech Mahindra,&nbsp;Axis Bank,&nbsp;Asian Paints,&nbsp;TCS,&nbsp;HCL Tech,&nbsp;HDFC.

Sensex, Nifty close flat; Metal, PSU bank stocks shine

Market on Wednesday ended on a flat note for the second consecutive day. The 30-share index ended at 51,849, while the broader Nifty 50 index ended at 15,576.&nbsp; Among sectors, strong gains were seen in PSU Banks, metals, auto and realty indices, while Nifty FMCG and Nifty IT ended in the red.&nbsp;
On the flip side,&nbsp;ITC&nbsp;was the worst performer, falling nearly 3 per cent. It was followed by&nbsp;Tech Mahindra,&nbsp;Axis Bank,&nbsp;Asian Paints,&nbsp;TCS,&nbsp;HCL Tech,&nbsp;HDFC.

Sensex, Nifty close flat; PSU Bank, metals shine Nifty auto, metal, energy and PSU Bank indices rose 1-3 % Motherson&nbsp;Sumi share touched a 52-week high of Rs 273 PNB Housing Finance share soared over&nbsp;50%&nbsp;as Carlyle steps in Muthoot Fin gain 8% post Q4 Earnings Adani Shares&nbsp;continue to move higher; Adani Ent&nbsp;up 9% All eyes on RBI&nbsp;as MPC&nbsp;to deliver its policy on June 4

Market on Wednesday ended on a flat note for the second consecutive day. The 30-share index ended at 51,849, while the broader Nifty 50 index ended at 15,576 managing to cut their losses in late trade buying in the last hour.&nbsp;
Nifty auto, metal, energy and PSU Bank indices rose 1-3 percent, FMCG&nbsp;and Tech sector were the main drag.&nbsp;
Many stocks in midcap&nbsp;stocks in action today, Motherson&nbsp;Sumi&nbsp;rallied over 13% as profits soared nearly 3 times in the quarter gone by. PNB&nbsp;Housing Finance now up over 50% in 3 sessions as Carlyle steps in as controlling investor. Muthoot&nbsp;Finance was also a traders favorite up 8% on heavy volumes as profit rose 23% in Q4. The entire Adani&nbsp;pack continued to be on a roll in trade today.&nbsp; All eyes on RBI&nbsp;now as the MPC&nbsp;will deliver its policy on June 4, street is expecting strong commentary on inflation and also a possible downgrade on the GDP&nbsp;for the current financial year.&nbsp;

The government has announced an infusion of Rs 14,500 crore into 4 state-owned banks to shore up their capital base.&nbsp;As per Govt notification&nbsp;Central Bank of India, Indian Overseas Bank, Bank of India and&nbsp;UCO Bank&nbsp;will receive the funds through zero-coupon bonds, an instrument that RBI&nbsp;had flagged concerns on using while calculating capital base for banks.&nbsp;
All these lenders, except Bank of India, are under the Reserve Bank of India&rsquo;s sanctions as their bad loans have been on the rise.&nbsp;In December, the government had infused Rs 5,500 crore into Punjab and Sind Bank.

$2 billion push for PSU banks, Govt infuses capital

The government has announced an infusion of Rs 14,500 crore into 4 state-owned banks to shore up their capital base but using an instrument the RBI&nbsp;may not be too happy about.&nbsp;

<ul>
<li>Govt to infuse Rs 14,500 cr into 4 PSU&nbsp;banks&nbsp;</li>
<li>Govt to infuse capital in&nbsp;Central Bank of India, Indian Overseas Bank, Bank of India and&nbsp;UCO Bank</li>
<li>Govt to infuse capital via zero-coupon bonds, RBI&nbsp;had raised concerns over this instrument</li>
<li>Govt had infused funds into&nbsp;Punjab and Sind Bank in December</li>
</ul>

The government has announced an infusion of Rs 14,500 crore into 4 state-owned banks to shore up their capital base.&nbsp; As per Govt notification&nbsp;Central Bank of India, Indian Overseas Bank, Bank of India and&nbsp;UCO Bank&nbsp;will receive the funds through zero-coupon bonds, an instrument that RBI&nbsp;had flagged concerns on using while calculating capital base for banks.&nbsp;
All these lenders, except Bank of India, are under the Reserve Bank of India&rsquo;s sanctions as their bad loans have been on the rise.&nbsp;In December, the government had infused Rs 5,500 crore into Punjab and Sind Bank.

&ldquo;Government has no business to be in business&rdquo; that was the clear&nbsp; and concise message from PM Modi as the govt batted aggressively for privatisation. Putting the focus back onto development PM Modi reiterated that being in businesses distracts the govt from its main goals.
With over 100 assets identified its asset monetisation pipeline the Prime Minister reminded India Inc that the Rs 2.5 lakh crore that they are hoping to raise via divestment will be dedicated to development goals. PM Modi added that the government will be&nbsp;having&nbsp;public sector companies only in key strategic sectors and that too only minimum companies. &nbsp;
There were about 249 PSUs in 2018-19. Of these, 70 were loss-making, with combined losses to the tune of Rs 31,000 cr.&nbsp;

MODI’S MOTTO: MONETISE AND MODERNISE 

&ldquo;Government has no business to be in business&rdquo; that was the clear&nbsp; and concise message from PM Modi as the govt batted aggressively for privatisation. Putting the focus back onto development PM Modi reiterated that being in businesses distracts the govt from its main goals.
With over 100 assets identified its asset monetisation pipeline the Prime Minister reminded India Inc that the Rs 2.5 lakh crore that they are hoping to raise via divestment will be dedicated to development goals. PM Modi added that the government will be&nbsp;having&nbsp;public sector companies only in key strategic sectors and that too only minimum companies. &nbsp;
 There were about 249 PSUs in 2018-19. Of these, 70 were loss-making, with combined losses to the tune of Rs 31,000 cr.&nbsp;

&ldquo;Government has no business to be in business&rdquo; that was the clear&nbsp; and concise message from PM Modi as the govt batted aggressively for privatisation. Putting the focus back onto development PM Modi reiterated that being in businesses distracts the govt from its main goals.
With over 100 assets identified in its asset monetisation pipeline the Prime Minister reminded India Inc that the Rs 2.5 lakh crore that they are hoping to raise via divestment will be dedicated to development goals. PM Modi added that the government will be&nbsp;having&nbsp;public sector companies only in key strategic sectors and that too only minimum companies. &nbsp;
 There were about 249 PSUs in 2018-19. Of these, 70 were loss-making, with combined losses to the tune of Rs 31,000 cr.&nbsp;

BSNL raises ₹8,500 cr via bonds; expects to be profitable in FY21

State-run BSNL raised more than ₹8,500 crore through private placement of sovereign guarantee bonds and expects to become operationally profitable in FY21

State-run telecom firm BSNL raised more than ₹8,500 crore through private placement sovereign guarantee bonds.
Government funds and PSU banks participated in the issue, a top official of the company said.
BSNL&nbsp;is also planning to monetise assets worth ₹18,000 crore within a year and expects the loss-making company to become operationally profitable in the financial year 2021.

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