India has implemented the post-independence mixed economic system, in which the government steps in to operate in specific primary sectors.
Four of seven with four of them from the financial sector and four others in the public sector.
The companies listed here are the state-owned majority.
Check-out, the five largest public companies in India’s Public Sector labelled as Public Sector Undertakings (), mentioned below.
Indian Oil Corporation Ltd.
India is the , and Indian Oil happens to be the flag-bearer of the same. The country’s predominant electricity company is none other than state-owned . Indian Oil’s sales were $77.6 billion us dollars, which rose 17.7 percent during the last year, as per the 2019 Global Fortune 500 ratings based on 2018 sales. The corporation does have a population of over 33,000. And in the context of duties and taxation, it stands to be the leading lender to the national exchequer.
Oil & Natural Gas Corporation Ltd.
is the leading upstream oil and gas firm in India, producing 1.2 million oil-equivalent barrels per day. ONGC discovered 83% of established reserves in the country. ONGC received $61.4 billion in sales in 2018 with a rising of 19.9% and $4.3 million in revenues, past year. It also generated 22.31 MMT of crude oil, excluding its collaborative projects’ contribution.
State Bank of India
Originally known Imperial Bank of India (founded in ), the now well-known as , (renamed in ) is effectively India’s largest commercial bank. It has 28 trillion rupees in funds, 260 million debit cards and a network of 59,541 ATMs. The upcoming financial year made a significant deficit of 65 billion rupees. In 1955, India’s federal reserve acquired a majority stake in the bank. In 2018, the State Bank of India reported having $47.3 billion in sales.
Hindustan Petroleum Corporation Ltd.
actively involves crude oil processing and the selling of petroleum products. The same was established in 1974 when the government took over two private refining firms. It recorded refining productivity of only to see the most excellent possible ever net profit of 63 billion rupees. It also caters to a share of the market of around 25 per cent in India.
Bharat Petroleum Corporation Ltd.
was founded in and obtained in 1976 by the Indian government. It runs crude oil refineries and markets petrochemical products in Mumbai and Kochi. Thanks to its network of above 14,000 petrol stations, the business emblem is a typical all-along Indian highway.
The revenues of , rising to 16.5 percent and earnings of 1.1 billion in the past year. Its refining petroleum production increased to 28.54 MMT from 25.39 MMT in the 2018 fiscal year with its net profit became 79 billion rupees.
Don't miss: 5 things you shouldn't do during recession