After a long wait, Central Government has decided to grant top public sector undertaking (PSU) companies the Maharatna status that would give them more autonomy in decision making. Only those PSUs have an average net worth of Rs 15,000 crore in the last three years and an annual profit post tax of Rs 5,000 crore will be eligible to qualify as Maharatnas. Currently there are 18 Navratnas which are allowed to make investment decisions to the tune of Rs 5,000 crore without requirement of government approval.This will be positive for all leading PSUs on the bourses. |