The President of India holds shares on behalf of the Government of India, as the government holds majority ownership in public sector undertakings (PSUs) for the purpose of nation-building and economic advancement, rather than for profit maximization.
As per the latest corporate shareholdings filed, the President Of India publicly holds 78 stocks with a net worth of over Rs. 4,404,748.3 crores.
Listed below are such stocks in which the President Of India decreased their stake during Q4FY24:
Union Bank of India
With a market capitalization of Rs. 1,17,710 crores, shares of the banking company started Tuesday’s trading session on a flatter note at Rs. 157 compared to its previous close of Rs. 156.75. During the trading session, the shares hit a low of Rs. 153.25, losing around 2 percent and closed the day at Rs. 154.20 apiece.
Looking at the company’s financial statements, the Net Interest Income (NII) increased marginally by 0.4 percent from Rs. 9,126 crores during the September quarter to Rs. 9,168 crores in the December quarter. In addition, the net profits increased by around 1.5 percent from Rs. 3,572 crores to Rs. 3,625 crores during the same period.
In the March quarter, the President of India, who is also the company’s Promoter, reduced their stake by 2.23 percent from 76.99 percent in the December quarter to 74.76 percent. Concurrently, Foreign Institutional Investors (FIIs) raised their stake to 6.75 percent, while Domestic Institutional Investors (DIIs) held 12.24 percent. The remaining 6.25 percent stake belonged to the Public.
NHPC Ltd
With a market capitalization of Rs. 96,633 crores, shares of the hydroelectric generation company started Tuesday’s trading session on a flatter note at Rs. 93.95 compared to its previous close of Rs. 93.40. During the trading session, the shares hit a high of Rs. 96.70, gaining around 3 percent and closed the day at Rs. 96.20 apiece.
Coming onto the company’s financial statements, the revenue decreased by 30 percent from Rs. 2,931.26 crores during the September quarter to Rs. 2,055 crores in the December quarter. On the other hand, the net profits declined by 63 percent from Rs. 1,693.26 crores to Rs. 628.44 crores during the same period.
In the March quarter, the President of India, who is also the company’s Promoter, reduced their stake by 3.55 percent from 70.95 percent in the December quarter to 67.40 percent. Concurrently, Foreign Institutional Investors (FIIs) hold a stake of 6.80 percent, while Domestic Institutional Investors (DIIs) hold an 11.31 percent stake. The remaining 13.22 percent stake belonged to the Public.
NLC India Ltd
With a market capitalization of Rs. 33,605 crores, the shares of the mining company started Tuesday’s trading session on a higher note at Rs. 248 compared to its previous close of Rs. 246.60. During the trading session, the shares hit a low of Rs. 240.60, losing around 2 percent and closed the day at Rs. 242.35 apiece.
Looking at the company’s financial statements, the revenue increased by 6 percent from Rs. 2,978 crores during the September quarter to Rs. 3,164 crores in the December quarter. On a contrasting note, the net profit decreased by 77 percent from Rs. 1,086 crores to Rs. 254 crores during the same period.
In the March quarter, the President of India, also the company’s Promoter, decreased their ownership by 7 percent, from 79.20 percent in December, to 72.20 percent. Meanwhile, Foreign Institutional Investors (FIIs) increased their stake to 2.39 percent, while Domestic Institutional Investors (DIIs) raised their stake to 13.38 percent. Other government entities held 4.31 percent of shares, with the Public holding the remaining 6.25 percent stake.
Written By Vaibhav Patil
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