Article: Listing of Coal India enough to make it a Fortune 500 company

C-Suite

Listing of Coal India enough to make it a Fortune 500 company

It is just a matter of hitting the capital markets for Coal India to be in the much coveted list of Fortune 500, said Nitish Sengupta, Chairman, Board of Reconstruction of Public Sector Enterprises in light of the current opposition of the disinvestment by Left trade unions. He emphasized that only 10% listed shares of Coal India can secure a place within a day in the Fortune 500 companies for this PSU. Sengupta also said that the real valuation of a public sector company can only be evaluated after its shares are traded on the stock market. Currently, there are eight Indian companies in the Fortune 500 list including IndianOil, Reliance Industries, Tata Steel, Hindustan Petroleum, SBI, et al. BRPSE Chairman also emphasized that the PSUs and the Government should not get wary about disinvestment and losing managerial control as the majority stakes and managerial control would still remain with the Government. PSUs have been completely transformed not only in terms of production and profit but also in the areas of corporate governance, compliance, maintaining transparency, et al. Disinvestment would give impetus to the expansion plans of flourishing PSUs on one hand, and will give external aid to the sick units.

It is just a matter of hitting the capital markets for Coal India to be in the much coveted list of Fortune 500, said Nitish Sengupta, Chairman, Board of Reconstruction of Public Sector Enterprises in light of the current opposition of the disinvestment by Left trade unions. He emphasized that only 10% listed shares of Coal India can secure a place within a day in the Fortune 500 companies for this PSU. Sengupta also said that the real valuation of a public sector company can only be evaluated after its shares are traded on the stock market. Currently, there are eight Indian companies in the Fortune 500 list including IndianOil, Reliance Industries, Tata Steel, Hindustan Petroleum, SBI, et al. BRPSE Chairman also emphasized that the PSUs and the Government should not get wary about disinvestment and losing managerial control as the majority stakes and managerial control would still remain with the Government. PSUs have been completely transformed not only in terms of production and profit but also in the areas of corporate governance, compliance, maintaining transparency, et al. Disinvestment would give impetus to the expansion plans of flourishing PSUs on one hand, and will give external aid to the sick units.

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