The Top 20 PSEs themselves hold quite a cash surplus which the government may "requisition as dividend" now that the sun has gone down on options for buyback and crossholdings resisted by the PSEs in question. A cash dividend would be harder to refuse the owners in a bind from the deficit but may not be easy to come through. The cash surplus estimated on B-UTV is INR 1.77 tln incl Neyvelli, MOIL, SAIL, Coal India, ONGC ...ONGC would be paying its 50% share in energy subsidies at nearly INR 475 bln

Posted via email from The India Investment Post