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Seven of the listed public sector undertakings of Gujarat government have made it to the coveted list of Dun & Bradstreet (D&B)'s list of 'India's top 500 companies 2015'.
As per the report released on Wednesday, state-run fertilizers and chemicals players, Gujarat State Fertilizers & Chemicals Limited (GSFC), Gujarat Alkalies & Chemicals Limited (GACL) and Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) ranked at 169, 187 and 192 respectively in the 500-companies list prepared by the US-based business intelligence and analytics company.
City gas distributor, Gujarat Gas Company Ltd (GGCL), power player Gujarat Industries Power Co Limited (GIPCL) and minerals major, Gujarat Mineral Development Corporation Ltd (GMDC) ranked 312, 313 and 314 respectively. Natural gas transmission player, Gujarat State Petronet Ltd (GSPL) was ranked 412.
However, GSPL was the new entrant to the list, while the remaining PSUs had figured in the list last year.
"The critical role of PSUs in driving the Indian economy is underscored by the fact that even though PSUs account for less than 14% of Top 500 companies in terms of absolute numbers, they contribute to around 40% of the aggregate total income and aggregate net profit of Top 500 Companies," stated Kaushal Sampat, President & MD - India, Dun & Bradstreet.
As a reflection of 'Achhe Din' for the investors and an endorsement to the rankings by Dun & Bradstreet, the share prices of these PSUs during the financial year 2014-15 has shown significant rise as against the benchmark index, Sensex's gain of 25 per cent.
As per the BSE data, barring GMDC and GNFC, which lost by 10 per cent and 3 per cent respectively, all other PSUs posted gains ranging from 1 per cent for GACL to 147 per cent for GGCL. GIPCL shares gained 28 per cent, GSFC surged by 60 per cent and GSPL gained close to 90 per cent during the fiscal year.
Further, the D&B data reveals that the number of companies making it to the coveted list has increased to 33 in 2015 as against 29 in 2014. These included eight PSUs with remaining from private sector. The list included companies from 19 sectors such as chemicals and pharmaceuticals, engineering, food, banking, power and energy among others.
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