PSU Neyveli Lignite Corporation gets Navratna status

by khalid on 13/04/2011 · 0 comments

On the occasion of celebrations of ‘public sector day’, the lignite mining company of India Neyveli Lignite Corporation (NLC) has been given the coveted Navratna status, giving greater autonomy for taking investment decisions. State owned (PSU) companies with Navratna status have the power of taking decisions of their own without consulting the government upto an investments of Rs 1000 crore. For the Maharatna companies, the limit is Rs 5000 crore.

On the occasion, President of India Mrs Patil have felicitated and conferred with the Navratna status to Neyveli Lignite Corporation Limited and Maharatna status to Coal India 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 : 513683
Mkt. Cap : Rs 18,932.84 Crores
Neyveli Lignite Corporation share’s CMP is Rs 112.85 on 13th Apr 2011.

Stay tuned to BelltheBull Blog for more news on Neyveli Lignite Corporation Limited !

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