Share Market Latest News - Railtel, SJVN, NHPC Achieve 'Navratna' Recognition: What Investors Need to Know

Navratna status is awarded to government-owned companies that were previously classified under 'miniratna' category I.

On August 30, the Ministry of Finance upgraded four public-sector enterprises, SJVN, Solar Energy Corporation, NHPC, and RailTel Corporation of India, to the 'Navratna' status.

Three of the four new Navratna companies in India are publicly traded: Railtel, SJVN, and NHPC. Shares of these public sector undertakings will be in focus on September 2.

PSUs are given a status, from Maharatna companies to Navratna companies, to Miniratna companies. Navratna status is awarded to government-owned companies that were previously classified under 'miniratna' category I, recognizing their strong financial and market performance.

Navratna companies can invest up to Rs 1,000 crore without prior government approval. Navratna PSUs also can allocate around 15 percent to a specific project or 30 percent of their net worth over an entire year, as long as it is under the Rs 1,000 crore limit.

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Shipbuilder Mazgaon Dock was the last PSU to be upgraded to the Navratna status, making these four the 22nd, 23rd, 24th, and 25th enterprises to be upgraded.

For the first quarter that ended June, RailTel Corporation of India saw a 25.2 percent on-year jump in net profit, to Rs 48.7 crore. SJVN's consolidated net profit rose 31 percent to Rs 357.09 crore in the June quarter as against Rs 271.75 crore during the same period last year.

NHPC's net profit increased by 1.2 percent YoY to Rs 1,108.5 crore for the first quarter ending June 30, 2024.

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