Mazagon Dock Shipbuilders Is Now A 'Navratna' Company

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
1Engineers India Ltd (EIL)
2Container Corporation of India Ltd (CONCOR)
3Bharat Electronics Ltd (BEL)
4Hindustan Aeronautics Ltd (HAL)
5Neyveli Lignite Corporation Ltd (NLC India)
6Rashtriya Ispat Nigam Ltd (RINL)
7Rashtriya Chemicals & Fertilisers Ltd (RCF)
8Mahanagar Telephone Nigam Ltd (MTNL)
9National Buildings Construction Corporation Ltd (NBCC)
10National Aluminium Company Ltd (NALCO)
11National Mineral Development Corporation Ltd (NMDC)
12Rail Vikas Nigam Ltd (RVNL)
13Shipping Corporation of India Ltd (SCI)
14ONGC Videsh Ltd (OVL)
15RITES Ltd
16IRCON International Ltd
17IREDA Ltd

Price Action: Mazdock’s share price was up 0.22% to close at ₹3,974.05 on Tuesday.

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