CURRENT AFFAIRS
CURRENT AFFAIRS
Description
The NHPC, SJVN, and RailTel, three large public sector enterprises in India, have been awarded the prestigious "Navratna" title by the Government of India. This makes them the 18th, 19th, and 20th companies to hold this prestigious accolade. This position is a big accomplishment for many businesses, granting them greater independence and authority to make decisions and expand their operations.
Eligibility Criteria
To obtain Navratna status, a corporation must meet certain criteria-
Miniratna-I Status- The company must already hold Miniratna-I status, which is a lower degree of recognition for prosperous public sector companies.
Excellent Performance- The company must have received a "Excellent" or "Very Good" rating in its performance review (MoU rating) for at least three of the previous five years.
Strong Financial Performance- The organization must achieve a minimum of 60 points in six important financial indicators, including Net Profit, Net Worth, and Earnings Per Share.
Investment Autonomy
With Navratna status, NHPC, SJVN, and RailTel now have additional flexibility in making investment decisions.
Investment autonomy allows corporations to invest up to Rs 1,000 crore, or 15% of their net worth, in a single project without government permission. Individuals can invest up to 30% of their net worth in a year, provided it does not exceed Rs 1,000 crore.
Expanded Operational Capabilities- Navratna classification enables these corporations to establish subsidiaries abroad, form joint ventures, and restructure their operations to improve efficiency and performance.
Overview Of Companies
SJVN (Satluj Jal Vidyut Nigam Limited)- SJVN, which became a Miniratna in 2008, oversees a portfolio of 56,802 MW spread across 75 energy projects, including hydroelectric, solar, and wind power.
NHPC (National Hydroelectric Power Corporation)- Established in 1975, NHPC is one of India's biggest hydropower firms, having a total installed capacity of 7,144.2 MW. The corporation intends to boost its capacity to 23,000 MW by 2032 and 50,000 MW by 2047, with a focus on large projects in northeastern regions such as Assam and Arunachal Pradesh.
RailTel- In 2000, RailTel offered telecom infrastructure and broadband services in India. The company manages more than 55,000 kilometers of optical fiber networks along railway lines, making it one of the country's largest communications infrastructure suppliers. RailTel also provides Wi-Fi at railway stations and supports a variety of government initiatives, including Smart Cities and e-governance.
The declaration of Navratna's status has brought interest to the stocks of these companies. Despite this great news, the shares of SJVN, NHPC, and RailTel have recently fallen significantly, with SJVN and NHPC down 18% and RailTel down 21% from their all-time highs.
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