On the occasion of celebrations of ‘public sector day’, the world’s largest coal producer company Coal India Limited (CIL) has been given the coveted Maharatna status, giving greater autonomy for taking investment decisions. State owned (PSU) companies with Maharatna status have the power of taking decisions of their own without consulting the government upto an investments of Rs 5000 crore. For the Navratna companies, the limit is Rs 1000 crore.
On the occasion, President of India Mrs Patil have felicitated and conferred with the Maharatna status to Coal India Limited and Navratna status to Neyveli Lignite Corporation Limited and given compliment to the management and employees of the central public sector enterprises (CPSEs). She said the honour given to these PSUs recognised their performance over the years.
In her address, Patil stressed the importance of corporate governance and social responsibility The corporate sector should partner agriculture, she said, adding that “developing rural-industry linkages is, I believe, a part of corporate social responsibility”. It has been made mandatory for CPSEs to allocate a certain percentage of their net profit for social welfare.
Share’s Data :-
BSE Code : 533278
Mkt. Cap : Rs 224,232.20 Crores
Coal India Ltd share’s CMP is Rs 355.00 on 13th Apr 2011.
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