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List of Maharatna Companies in India

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Maharatna companies are probably the biggest and immensely powerful enterprises in India. Not only are they the leading names in the country's businesses but have a global reputation as well. Maharatna companies in India enjoy several benefits. This includes better and enhanced operational and financial control. The most common businesses included in Maharatna companies include Public Sector Banks, State Enterprises, and much more. 

What is Maharatna Company?

Before we go any further, let's first understand what a Maharatna company is. In the most simple terms, Maharatna companies in India are government-leading enterprises. These are also sometimes referred to as PSUs or Public Sector Undertakings. 

The term “Maharatna” translates to big or great jewel. This gives us the Maharatna company meaning. These companies are like jewels to the Indian economy. 

Currently, we have a total of around 13 Maharatna companies in the country. 

List of Maharatna Companies in India 2024     

Here is a list of Maharatna companies in India.

S.no

Name of the Company

1

Bharat Petroleum Corporation Limited (BPCL)

2

Bharat Heavy Electricals Limited (BHEL)

3

Coal India Limited (CIL)

4

GAIL India Limited (GAIL)

5

Steel Authority of India Limited (SAIL)

6

Hindustan Petroleum Corporation Limited (HPCL)

7

Indian Oil Corporation Limited (IOCL)

8

Oil India Limited (OIL)

9

Oil & Natural Gas Corporation Limited (ONGC)

10

Power Grid Corporation of India Limited (POWERGRID)

11

National Thermal Power Corporation (NTPC)

12

Power Finance Corporation (PFC)

13

Rural Electrification Corporation Limited (RECL)

Overview of Maharatna Companies in India       

  1. Bharat Petroleum Corporation Limited (BPCL)

    Established in 1952, the company is a big name in the oil industry. It engages in the production of natural gas, oil, and other petroleum products. Additionally, it also offers fuel products. 

  2. Bharat Heavy Electricals Limited (BHEL)

    Founded in 1964, the company is a key player in the production of power sector tools and equipment. It manufactures products for transportation, aerospace, power generation, defence, and much more. 

  3. Coal India Limited (CIL)

    Founded in 1975, the company is the largest coal production unit in the world. It is engaged in the production of hard coal, coking and non-coking coal, etc. The company is now working to be more eco-friendly and sustainable. 

  4. GAIL India Limited (GAIL)

    Established in 1984, the company is the largest enterprise of natural gas in the country. GAIL is involved in renewable energy generation and city distribution. 

  5. Steel Authority of India Limited (SAIL)

    Founded in 1954, the company enjoys the reputation of the biggest steel makers. It is involved in the production and distribution of a variety of steel and iron products. From beams to wheels, angels to much more, it makes everything. 

  6. Hindustan Petroleum Corporation Limited (HPCL)

    Founded in 1974, the company is another big name in oil and gas production. They refine and distribute crude oil and petroleum goods. They are also known for their advanced R&D. 

  7. Indian Oil Corporation Limited (IOCL)

    Founded in 1959, the company is the leading commercial enterprise in the nation. From oil and gas to petroleum products, their engagement expands wide. Some product examples include LPG, lubricants, grease, diesel, and much more.

  8. Oil India Limited (OIL)

    OIL is a leader in both exploring and producing oil and gas products. Their work profile is diverse. It includes activities like data collection, field development, drilling, and much more. 

  9. Oil & Natural Gas Corporation Limited (ONGC)

    Established in 1956, the company is the largest exploration enterprise for oil and natural gas. ONGC is involved in everything: from finding to production and sales of oil and gas products and services. Around 71% of the total production of the country is contributed by ONGC. 

  10. Power Grid Corporation of India Limited (POWERGRID)

    POWER GRID is involved in providing maintenance for smart grids, transmission systems, and so on. The company is one of the innovative leaders in technology and uses the same to plan and improve the transmission services of the country. 

  11. National Thermal Power Corporation (NTPC)

    Founded in 1975, NTPC is the leader in the generation of power. It uses different sources like coal, gas, and even renewable energy to generate electricity. Additionally, the company also involves itself in the mining of coal, rural electrification, and other services. 

  12. Power Finance Corporation (PFC)

    PFC is known for its financial services to the power sector of the country. It offers services like corporate and short-term loans, payment guarantees, and much more. 

  13. Rural Electrification Corporation Limited (REC)

    REC is also involved in providing financial aid to the power sector. However, the services provided have charged interests. They also help with long and short-term loans, bill payments, and other financial services. 

Benefits of Being a Maharatna Company in India

Once you understand the Maharatna company's meaning, you already know that these companies are like big jewels who enjoy certain benefits over other enterprises. They have better financial autonomy where they can implement their strategies and decisions relating to investments and day-to-day operations. 

Additionally, Maharatna companies also get to enjoy the benefits of borrowing. They can easily borrow from different financial authorities without the need to ask for the government's permission time and again. Further, not to forget, these companies are powerful and so is their business. Their business expands outside the national boundaries and enjoys worldwide reach. 

Eligibility Criteria to Become a Maharatna Company

A Maharatna company is a top tier in the game. This means not every enterprise can be one. Instead, a company has to adhere to and fulfil certain criteria to be a Maharatna company in India. 

  • Company's Status

    One of the prerequisites to be a Maharatna company is that it must have a Navaratna status.

  • Company's Listing

    The company's listing on the Stock Exchange of India is also mandatory. This ensures its compliance with SEBI rules and regulations and transparency on stock trading platforms. 

  • Company's Earnings

    The company's earnings are an important aspect for it to be added to the list of Maharatna companies. The annual earnings for the company should be no less than ₹25,000 crores over the past 3 years.

  • Profits

    Over the last 3 years, the profits of the company should be no less than ₹5,000 crores.

  • Average Value

    The average value or net worth of the company cannot be any less than ₹15,000 crores for the last 3 years. 

  • Global Reputation 

    A ln enterprise must have a global reach. This means the companies’ businesses shouldn't be limited to just Indian boundaries but should be expanding beyond. 

  • Final Recommendation

    The company must have recommendations from its board of directors. 

  • Approval from Government

    The final approval from the government after adherence to each criterion grants a company a Maharatna status. 

Role of Maharatna Companies in India's Growth and Development

The big reputation and bigger benefits mean that Maharatna companies also have a big responsibility to play. They are crucial drivers of the Indian economy. Not only do they help the government make money, but they do much more than that. For example, they help boost the growth and development of an economy. The projects under these companies also provide opportunities for other related industries. Plus, these companies act as industry experts with innovative ideas and a global presence. Further, each Maharatna company has a strategic role to play. For example, BHEL is significant in the defence sector. 

Conclusion

Maharatna companies are truly the big ‘ratnas’ of the nation. And when we say big, it is more than just their size. It includes their role in driving the economy’s growth and development. These companies help the government generate income and employment. With India climbing the stairs of new achievements every year, these companies contribute greatly to the country's progress.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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Frequently Asked Questions

What is the meaning of stock exchange and what role does it play in the financial market?

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A stock exchange is a place where people trade in securities. It helps companies raise capital and enables investors to invest in listed securities. It also helps in the price discovery of securities and acts as a barometer for an economy.

How does a stock exchange facilitate the trading of stocks?

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It connects the buyers with the sellers of securities online. You can just log in to your demat account and buy and sell securities.

What are the major stock exchanges around the world?

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The major exchanges around the world are the New York Stock Exchange, NASDAQ, London Stock Exchange, Shanghai Stock Exchange, Tokyo Stock Exchange, Hong Kong Stock Exchange, and Bombay Stock Exchange.

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In a stock exchange, the transactions are mediated. However, in an over-the-counter (OTC) market, buying and selling directly happens between the parties involved. Besides, participants have to follow strict rules and regulations in a stock exchange, which ensures greater transparency than in an OTC market.

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Stock prices are determined based on the demand and supply of shares. If the demand is higher than the supply, the price of a share increases. However, if the supply is higher than the demand, the price of a stock declines.

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