Defence major Mazagon Dock Shipbuilders on Tuesday evening announced that the government had granted it “Navranta” status.
What Happened: The company in an exchange filing said that the “Department of Public Enterprises (DPE) has approved the proposal for the grant of Navratna status to Mazagon Dock Shipbuilders Limited.”
The Indian government grants Navratna status to premier public sector undertakings (PSUs), empowering them to execute investments of up to ₹1,000 crore without requiring approval from the central authority.
These firms are permitted to invest up to 30% of their net worth annually, provided it remains under ₹1,000 crore. Additionally, they have the option to participate in joint ventures, forge partnerships, and set up overseas subsidiaries.
Before Mazdock, 17 other PSUs fell under the category. The latest one to be included was IREDA in Apri.
List of all other Navratna Companies:
| # | Company Name |
|---|---|
| 1 | Engineers India Ltd (EIL) |
| 2 | Container Corporation of India Ltd (CONCOR) |
| 3 | Bharat Electronics Ltd (BEL) |
| 4 | Hindustan Aeronautics Ltd (HAL) |
| 5 | Neyveli Lignite Corporation Ltd (NLC India) |
| 6 | Rashtriya Ispat Nigam Ltd (RINL) |
| 7 | Rashtriya Chemicals & Fertilisers Ltd (RCF) |
| 8 | Mahanagar Telephone Nigam Ltd (MTNL) |
| 9 | National Buildings Construction Corporation Ltd (NBCC) |
| 10 | National Aluminium Company Ltd (NALCO) |
| 11 | National Mineral Development Corporation Ltd (NMDC) |
| 12 | Rail Vikas Nigam Ltd (RVNL) |
| 13 | Shipping Corporation of India Ltd (SCI) |
| 14 | ONGC Videsh Ltd (OVL) |
| 15 | RITES Ltd |
| 16 | IRCON International Ltd |
| 17 | IREDA Ltd |
Price Action: Mazdock’s share price was up 0.22% to close at ₹3,974.05 on Tuesday.
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