Latest news with #CPSE
Time of India
2 days ago
- Business
- Time of India
Industry 4.0 should be adopted in CPSEs for global competitiveness: Govt
New Delhi: Industry 4.0 is being considered for future incorporation into the Central Public Sector Enterprise (CPSE) MoU assessment framework, and that early adoption will be key to enhancing global competitiveness, the government has said. In a strategic step towards fostering innovation and smart manufacturing , the Department of Public Enterprises (DPE), Ministry of Finance, organised a workshop on Industry 4.0 here, which brought together experts, policymakers, and leadership of CPSEs to discuss strategies for adoption and scaling up of Industry 4.0 technologies across sectors like Energy, Power, Construction, Infrastructure, Telecom and Services. K. Moses Chalai, Secretary, Department of Public Enterprises, emphasised the importance of embracing the Fourth Industrial Revolution (4IR) as a national mission. In his address, Chalai underscored the need for a "Whole-of-CPSEs" (WoC) approach - on the lines of the "Whole-of-Government" framework - urging all CPSEs to collaborate in integrating 4IR enablers such as Artificial Intelligence (AI), Internet of Things (IoT), Digital Twins , 3D Printing, and 5G-enabled smart infrastructure into their operations. As part of expert presentations at the workshop, A. Anand, a deployment expert, shared rich experience in applications and field deployment of Digital Designing, Reverse Engineering, and 3D Printing across industry verticals, drawing from India's first 5G Labs and 3D Printing Centres of Excellence. Dr. Prabhjot Singh Sugga, Associate Professor at SPA, highlighted the transformative potential of Digital Twin platforms in infrastructure, plant management, and disaster resilience and Vidushi Chaturvedi, an AI expert, spoke on leveraging Artificial Intelligence and Machine Learning for predictive analytics, resource optimisation, and intelligent decision-making. The DPE reiterated its commitment to support CPSEs in leveraging Industry 4.0 for operational excellence and sustainable development. The workshop marks a significant step toward realising this vision through collective efforts and strategic implementation across the CPSE ecosystem, according to the government.
New Indian Express
5 days ago
- Business
- New Indian Express
Cabinet approves enhanced- investment autonomy for NTPC, NLCIL
NEW DELHI: In a move to accelerate the development of renewable energy projects in India, the government has granted enhanced financial autonomy to NTPC Limited and NLC India Limited (NLCIL), two major Central Public Sector Enterprises (CPSEs). The Cabinet has approved the relaxation of existing investment guidelines to allow NTPC Limited to increase its investment in NTPC Green Energy Limited (NGEL), a wholly owned subsidiary. This move raises the previous investment ceiling from ₹7,500 crore to ₹20,000 crore. The decision is aimed at facilitating NTPC's goal of achieving 60 GW of renewable energy capacity by 2032. It is expected to expedite the development of renewable projects, reinforce the national power infrastructure, and help ensure reliable, round-the-clock electricity supply across the country. Similarly, NLCIL has received Cabinet approval to invest ₹7,000 crore in its wholly owned subsidiary, NLC India Renewables Limited (NIRL). NIRL will use these funds to invest in renewable energy projects directly or through joint ventures, without requiring prior approval under existing guidelines. This investment is also exempt from the 30% net worth ceiling stipulated by the Department of Public Enterprises (DPE) for CPSE investments in subsidiaries and joint ventures, thereby providing NLCIL and NIRL with greater financial and operational flexibility. This initiative supports NLCIL's strategic vision of developing 10.11 GW of renewable energy capacity by 2030 and scaling it up to 32 GW by 2047. It aligns with India's climate commitments announced at COP26, including the pledge to establish 500 GW of non-fossil fuel energy capacity by 2030 under the 'Panchamrit' agenda and to achieve Net Zero emissions by 2070. NLCIL, a key Navratna CPSE, currently operates seven renewable energy assets with a total installed capacity of 2 GW. India has already reached a significant milestone in its energy transition by achieving 50% of its installed electricity capacity from non-fossil fuel sources—five years ahead of its Nationally Determined Contributions (NDCs) under the Paris Agreement. NTPC, as the country's leading power utility and a Maharatna CPSE, is targeting the addition of 60 GW of renewable energy capacity by 2032 to support the national goal of reaching 500 GW by 2030 and, ultimately, achieving Net Zero emissions by 2070.
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Business Standard
30-06-2025
- Business
- Business Standard
This state-owned copper company's stock rose 4% in trade today; Details
Hindustan Copper shares rose 3.5 per cent in trade on Monday, logging an intraday high at ₹285.95 per share on BSE. At 10:15 AM, Hindustan Copper share price was trading 3.06 per cent higher at ₹284.55 per share on the BSE. In comparison, the BSE Sensex was down 0.20 per cent at 83,862.35. The company's market capitalisation stood at ₹27,516.67 crore. Its 52-week high was at ₹352.6 per share and 52-week low was at ₹183.9 per share. In one year, Hindustan Copper shares have lost 13 per cent as compared to Sensex's rise of 6 per cent. Why are Hindustan Copper shares in demand? The buying interest on the counter came after the company executed a memorandum of understanding (MoU) with Indian Oil Corporation. Under the contract, both companies will jointly participate in copper, critical minerals block auctions, develop and operationalise block for exploration and mining, mining and processing of minerals and share risks across the value chain. The purpose of the MoU is also to share investments and risks for the development, mining and processing from existing assets of HCL, according to the filing. Track Stock Market LIVE Updates Hindustan Copper Q4 results The state-owned Mini-Ratna Central Public Sector Enterprise (CPSE) reported a 51.8 per cent increase in consolidated profit at ₹187.18 crore in Q4FY25 as compared to ₹124.33 crore a year ago. The company'e revenue for the quarter stood at ₹731.4 crore as compared to ₹565.37 crore a year ago. The consolidated income of the company during the fourth quarter rose to ₹777.28 crore, over ₹585.22 crore in the year-ago period. The total expenses of the company during the quarter under review rose to ₹518.75 crore, over ₹401.49 crore in the year-ago period. About Hindustan Copper Hindustan Copper Limited (HCL), established in 1967, is India's only vertically integrated copper producer, operating under the Ministry of Mines. As a central public sector enterprise (CPSE), HCL manages the entire copper value chain—from mining and beneficiation to smelting and refining. The company's operations span five key locations across the country: the Malanjkhand Copper Project in Madhya Pradesh, Khetri Copper Complex in Rajasthan, Indian Copper Complex in Jharkhand, Taloja Copper Project in Maharashtra, and Gujarat Copper Project in Gujarat. Operations at the Jhagadia and Ghatsila smelting/refining facilities have been suspended since 2019 due to business considerations.
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Business Standard
09-06-2025
- Business
- Business Standard
FM Sitharaman hails SPMCIL, hopes it to get status of Navratna soon
Finance Minister Nirmala Sitharaman on Monday lauded the performance of the Security Printing and Minting Corporation of India Limited (SPMCIL) and expressed confidence that it will soon become a Navratna state-owned company. Currently, SPMCIL, under the administrative control of the Department of Economic Affairs of the Finance Ministry, is a Schedule 'A' Miniratna Category-I company of the Government of India. The government grants Maharatna, Navratna and Miniratna status to Central Public Sector Enterprises (CPSEs) based on certain pre-defined criteria, including financial parameters such as track record of profit and net worth. Inaugurating the Corporate Office of SPMCIL, Sitharaman appreciated the works being done by the CPSE, which include printing of currency notes, minting of coins for circulation and commemorative coins. She hoped SPMCIL would also achieve Navratna status, given its consistent financial performance. Following its capital restructuring in 2015, the company fully repaid its loan with interest by 2016-17 and continues to deliver strong returns, Sitharaman said. In fiscal 2023-24, it paid a dividend of Rs 364 crore, following a record dividend of Rs 534 crore the year before. In her speech, the finance minister noted that the CPSE delivered about 3.4 metric tonnes of refined gold to the Reserve Bank of India from seizures transferred by the Customs department. It also refined silver and gold received from institutions such as Tirumala Tirupati Devasthanams and Vaishno Devi Shrine Board, among others. During 2024-25, the state-owned firm produced over 1,200 crore banknotes and 150 crore circulation coins as well as over 1.5 crore passport booklets and over 700 crore Excise Adhesive Labels, and various categories of postal and security-related stationery essential for government and public services. "I am equally impressed with the popularity of SPMCIL's souvenir coins, which play a significant role in promoting India's rich cultural heritage, history and art," she said. Sitharaman noted that in free India's recorded history, a total of 210 commemorative coins have been issued out of which 105 have been issued in the last decade, including coins celebrating events such the 2900th birth anniversary of Jain Tirthankar Shri Parshvanath Bhagwan, the 550th Prakash Purab of Guru Nanak Dev, the new Parliament Complex, the 1000 years of Brihadeeswarar Temple, and India's G20 Presidency. Over 20,000 coins have been purchased by the public for the new series of colour souvenir coins, which have been themed around Panchatantra, endangered species, and the Shri Ram Janmabhoomi Temple in Ayodhya. Speaking during the occasion, Minister of State for Finance Pankaj Chaudhary said the government would provide all support to the CPSEs to improve their efficiency and profitability.
Mint
09-06-2025
- Business
- Mint
Sitharaman lauds SPMCIL, hopes it to get Navratna status soon
New Delhi, Jun 9 (PTI) Finance Minister Nirmala Sitharaman on Monday lauded the performance of the Security Printing and Minting Corporation of India Limited (SPMCIL) and expressed confidence that it will soon become a Navratna state-owned company. Currently, SPMCIL, under the administrative control of the Department of Economic Affairs of the Finance Ministry, is a Schedule 'A' Miniratna Category-I company of the Government of India. The government grants Maharatna, Navratna and Miniratna status to Central Public Sector Enterprises (CPSEs) based on certain pre-defined criteria, including financial parameters such as track record of profit and net worth. Inaugurating the Corporate Office of SPMCIL, Sitharaman appreciated the works being done by the CPSE, which include printing of currency notes, minting of coins for circulation and commemorative coins. She hoped SPMCIL would also achieve Navratna status, given its consistent financial performance. Following its capital restructuring in 2015, the company fully repaid its loan with interest by 2016-17 and continues to deliver strong returns, Sitharaman said. In fiscal 2023-24, it paid a dividend of ₹ 364 crore, following a record dividend of ₹ 534 crore the year before. In her speech, the finance minister noted that the CPSE delivered about 3.4 metric tonnes of refined gold to the Reserve Bank of India from seizures transferred by the Customs department. It also refined silver and gold received from institutions such as Tirumala Tirupati Devasthanams and Vaishno Devi Shrine Board, among others. During 2024-25, the state-owned firm produced over 1,200 crore banknotes and 150 crore circulation coins as well as over 1.5 crore passport booklets and over 700 crore Excise Adhesive Labels, and various categories of postal and security-related stationery essential for government and public services. "I am equally impressed with the popularity of SPMCIL's souvenir coins, which play a significant role in promoting India's rich cultural heritage, history and art," she said. Sitharaman noted that in free India's recorded history, a total of 210 commemorative coins have been issued out of which 105 have been issued in the last decade, including coins celebrating events such the 2900th birth anniversary of Jain Tirthankar Shri Parshvanath Bhagwan, the 550th Prakash Purab of Guru Nanak Dev, the new Parliament Complex, the 1000 years of Brihadeeswarar Temple, and India's G20 Presidency. Over 20,000 coins have been purchased by the public for the new series of colour souvenir coins, which have been themed around Panchatantra, endangered species, and the Shri Ram Janmabhoomi Temple in Ayodhya. Speaking during the occasion, Minister of State for Finance Pankaj Chaudhary said the government would provide all support to the CPSEs to improve their efficiency and profitability.
