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Four PSUs Upgraded to Navratna Status

  • 04 Sep 2024

On 30th August 2024, the Ministry of Finance elevated SJVN, Solar Energy Corporation, NHPC, and RailTel Corporation to 'Navratna' status.

  • The four public-sector enterprises (PSUs) include three publicly traded companies: RailTel, SJVN, and NHPC.
  • Following the upgrade, shares of RailTel and SJVN surged by over 5%, while NHPC's shares rose by 4.5% in early trading on September 2.
  • Navratna status is awarded to companies previously classified as 'Miniratna' Category I, acknowledging their strong financial and market performance.
  • Companies with Navratna status can invest up to Rs 1,000 crore without prior government approval, and allocate up to 15% of their net worth to specific projects.
  • Mazgaon Dock was the last PSU to be upgraded to Navratna status, making these four the 22nd to 25th enterprises to receive this recognition.