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BHEL may benefit from new “maharatna” norms

EM NEWS BUREAU ,  Friday, May 06, 2011, 10:52 Hrs  [IST]

Untitled - 6.jpgIndia's biggest equipment maker Bharat Heavy Electricals Ltd is set to benefit from the new norms for conferring "maharatna" status to public sector units. Currently, Oil & Natural Gas Corporation, Indian Oil Corporation, Steel Authority of India, NTPC and Coal India are the five Central PSUs with "maharatna" status.

The Union ministry of heavy industries and public enterprises has proposed revised norms for grant of "maharatna" status. The new norms, likely to come in force by June, are seen benefiting companies like BHEL and Gail (India). The maharatna status equips PSUs with much greater autonomy in matters related to capital expenditure and overseas acquisitions. BHEL is amongst the 16 PSUs that had "navaratna" status—one level lower than maharatna—as of April 15, 2011.

BHEL today has an outstanding order book position of nearly Rs.jpg1,75,000 crore. Its power equipment manufacturing capacity, currently at around 13,000 mw per year, is targeted to touch 20,000 mw by March 2012.
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