Navratna Status Boosts PSU Giants: Why Railtel, NHPC, and SJVN Stocks Are Set to Soar on Monday

Navratna Companies: On Thursday, the Government of India (GoI) granted Navratna status to four state-owned companies. These companies are Railtel Corporation of India Limited, Solar Energy Corporation of India Limited, National Hydroelectric Power Corporation Limited (NHPC), and Satluj Jal Vidyut Nigam (SJVN). The Department of Public Enterprises, Ministry of Finance, announced this update through its official X account (formerly known as Twitter).

Out of the four companies that have been upgraded, three are listed on the Indian stock market: Railtel, SJVN, and NHPC. These stocks are expected to draw significant attention when the market reopens on Monday after the weekend break.

With the addition of these four companies, the total number of Navratna companies in India has increased from 21 to 25. This new status will enable these companies to undertake larger Public Private Partnership (PPP) projects and, in some cases, bypass the need for Government of India approval.

Navratna Status for Railtel Corporation of India

Railtel Corporation announced that they received Navratna status from the Government of India. They stated, “We are pleased to inform you that the Department of Public Enterprises, Ministry of Finance, Government of India, via its letter dated August 30, 2024, has granted ‘Navratna Status’ to RailTel Corporation of India Ltd.”

NHPC Achieves Navratna Status

NHPC also shared this development in an exchange filing, saying, “It is to inform that the Department of Public Enterprises (DPE), Ministry of Finance, Government of India, via an order dated August 30, 2024, has approved the grant of Navratna Status to NHPC Limited.”

Navratna Status for SJVN

After joining the list of Navratna companies in India, SJVN informed the Indian exchanges, “We inform you that the Department of Public Enterprises, Ministry of Finance, Government of India, via its letter dated August 30, 2024, has granted ‘Navratna Status’ to SJVN Limited.”

Total Navratna Companies in India

With the addition of Railtel, SJVN, NHPC, and Solar Energy Corporation of India (SEC), the total number of Navratna companies in India has risen to 25. Here are the other 21 Navratna companies:

1. Bharat Electronics Limited
2. Container Corporation of India Limited
3. Engineers India Limited
4. Hindustan Aeronautics Limited
5. Mahanagar Telephone Nigam Limited
6. National Aluminium Company Limited
7. National Buildings Construction Corporation Limited
8. Neyveli Lignite Corporation Limited
9. Rashtriya Ispat Nigam Limited
10. Shipping Corporation of India Limited
11. Rail Vikas Nigam Limited (RVNL)
12. Rashtriya Chemicals & Fertilizers Limited
13. National Fertilizers Limited (NFL)
14. Central Warehousing Corporation
15. Housing & Urban Development Corporation Limited
16. Indian Renewable Energy Development Agency (IREDA) Limited
17. Mazagon Dock Shipbuilders Limited