The Ministry of Finance elevated Rail Vikas Nigam Limited (RVNL) to the status of a Navratna Central Public Sector Enterprise (CPSE) on Wednesday (26th April 2023).
RVNL, a public-sector railway company, has already been on investors’ radar recently because of a strong rally in the stock led by robust orders.
Let us take a look at what it means to be a Navratna CPSE. The term ‘Navratna’ refers to a select group of top-performing CPSEs that have been granted greater autonomy and financial powers by the Indian government in recognition of their superior performance.
The term ‘Navratna’, meaning nine gems, is used metaphorically to suggest that these companies are like the nine precious gems that shine brightly in the crown of Indian PSEs.
With RVNL added to the list, there are 13 Navratna companies :
The Navratna status was first granted to nine public sector enterprises in 1997 by the Indian government. Since then, a few more enterprises were added to this exclusive group based on their performance and on meeting the eligibility criteria. Currently there are 13 Navratnas, including RVNL.
These are :
* Shipping Corporation of India (SCI)
* Hindustan Aeronautics Limited (HAL)
* Rashtriya Ispat Nigam Limited (RINL)
* Engineers India Limited (EIL)
* NMDC Limited
* Bharat Electronics Limited (BHEL)
* National Buildings Construction Corporation (NBCC)
* Oil India Limited (OIL)
* Mahanagar Telephone Nigam Limited (MTNL)
* Container Corporation of India (CONCOR)
* National Aluminium Company (NALCO)
* NLC India Limited (NLCIL).
Source : Business Insider
Published On : April 27, 2023
Category : Business and Economics