{"id":106247,"date":"2023-08-04T17:52:03","date_gmt":"2023-08-04T12:22:03","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=106247"},"modified":"2023-08-04T17:52:04","modified_gmt":"2023-08-04T12:22:04","slug":"oil-india-becomes-indias-13th-maharatna-ongc-videsh-upgraded-to-navratna-cpse","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/oil-india-becomes-indias-13th-maharatna-ongc-videsh-upgraded-to-navratna-cpse\/","title":{"rendered":"Oil India Becomes India&#8217;s 13th Maharatna, ONGC Videsh Upgraded to Navratna CPSE"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-866149313\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The Finance Ministry has approved the upgradation of Oil India Ltd to the category of &#8216;Maharatna&#8217;, a move which will impart enhanced powers to the OIL board while taking financial decisions.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3963855630\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>ONGC Videsh is a wholly-owned subsidiary and overseas arm of <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/ONGC\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Oil and Natural Gas Corporation Limited<\/a><\/strong> (ONGC).<\/p><p>To be eligible for the grant of the Maharatna status, the company should have an average turnover of over Rs 25,000 crore, an average annual net worth of more than Rs 15,000 crore, and an average annual net profit of over Rs 5,000 crore during the last three years. The Maharatna status allows companies to &#8220;incur capital expenditure on purchase of new items or for replacement, without any monetary ceiling.&#8221; Also, these CPSEs should not depend upon budgetary support or government guarantees.<\/p><p>A Navratna status imparts enhanced financial and operational freedom to a company and empowers it to invest up to Rs 1,000 crore or 15% of its net worth on a single project without seeking government approval. Post the upgrade, the state-run oil major has become India&#8217;s 13th Maharatna Central Public Sector Enterprises (CPSE).<\/p><div class=\"trade-content_5\" id=\"trade-884462900\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>&#8220;The Finance Minister approved the upgradation of Oil India Ltd (OIL) to Maharatna CPSE. OIL will be the 13th Maharatna amongst the CPSEs. OIL is a M\/o Petroleum &amp; Natural Gas CPSE with annual turnover of Rs 41,039 crore and net profit of Rs 9,854 crore for the Year 2022-23,&#8221; the Department of Public Enterprises said in a post on Twitter, now branded as X.<\/p><p>In another post, the Department of Public Enterprises shared: &#8220;Finance Minister has approved the upgradation of ONGC Videsh Ltd (OVL) to Navratna CPSE. OVL will be 14th Navratna amongst the CPSEs. It is a M\/o Petroleum &amp; Natural Gas CPSE with annual turnover of Rs 11,676 crore and net profit of Rs 1,700 crore for the Year 2022-23&#8221;.<\/p><p>The other companies included in the Maharatna list are Bharat Heavy Electricals Limited (BHEL), Bharat Petroleum Corporation Limited (BPCL), Coal India Limited, GAIL India Limited, Hindustan Petroleum Corporation Limited (HPCL), Indian Oil Corporation Limited, NTPC Limited, Oil &amp; Natural Gas Corporation Limited (ONGC), Power Finance Corporation, Power Grid Corporation of India Limited, Rural Electrification Corporation Limited and Steel Authority of India Limited (SAIL).<\/p><div class=\"trade-after-content\" id=\"trade-1393734416\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The Finance Ministry has approved the upgradation of Oil India Ltd to the category of &#8216;Maharatna&#8217;, a move which will impart enhanced powers to the OIL board while taking financial decisions. ONGC Videsh is a wholly-owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited (ONGC). To be eligible for the grant of [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":40488,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-106247","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Oil India Becomes India&#039;s 13th Maharatna, ONGC Videsh Upgraded to Navratna CPSE - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"The Finance Ministry has approved the upgradation of Oil India Ltd to the category of &#039;Maharatna&#039;, a move which will impart enhanced powers to the OIL board while taking financial decisions.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/oil-india-becomes-indias-13th-maharatna-ongc-videsh-upgraded-to-navratna-cpse\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil India Becomes India&#039;s 13th Maharatna, ONGC Videsh Upgraded to Navratna CPSE\" \/>\n<meta property=\"og:description\" content=\"The Finance Ministry has approved the upgradation of Oil India Ltd to the category of &#039;Maharatna&#039;, a move which will impart enhanced powers to the OIL board while taking financial decisions.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/oil-india-becomes-indias-13th-maharatna-ongc-videsh-upgraded-to-navratna-cpse\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-04T12:22:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-04T12:22:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/05\/ONGC-Cover-Image-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/oil-india-becomes-indias-13th-maharatna-ongc-videsh-upgraded-to-navratna-cpse\/\",\"url\":\"https:\/\/tradebrains.in\/features\/oil-india-becomes-indias-13th-maharatna-ongc-videsh-upgraded-to-navratna-cpse\/\",\"name\":\"Oil India Becomes India's 13th Maharatna, ONGC Videsh Upgraded to Navratna CPSE - 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