Government granted Navratna Status to IRCON International and RITES.
IRCON became the 15th Central Public Sector Enterprise to get Navratna status.
Another PSU, RITES, becomes the 16th Central Public Sector Enterprise (CPSE) to receive this prestigious recognition.
Over the past year, the stocks of these public sector undertakings (PSUs) have increased significantly.
These companies will get more freedom in making decisions related to investments, joint ventures, mergers, and acquisitions.
A Navratna company can get ‘Maharatna’ status by meeting specific performance benchmarks and fulfilling certain eligibility criteria.
Bharat Electronics, Shipping Corporation of India, Hindustan Aeronautics, Rashtriya Ispat Nigam, and Hindustan Aeronautics are some of the Navratna Companies.
Ircon International Limited is a Government of India Undertaking under the Ministry of Railways. It was established in 1976, by the Indian Railways under the Indian Companies Act 1956.
RITES Ltd is a central Public Sector Enterprise (CPSE) under the Ministry of Railways. It was formed in 1974 under the Ministry of Railways.
RITES is a leading company in the transport consultancy and engineering sector in India.
