Top 10 Public Sector (PSU) Companies in India 2015
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Here is a list of the top 10 Public Sector Companies (PSU) in India 2015. PSU or Public Sector Undertakings are those companies which are owned by the Government of India. These companies have been the backbone of the Indian economy and had laid the foundation for the growth of India’s economy. These companies are also classified as Maharatna, Navratna and Miniratna companies, out of which BHEL, Coal India Limited, GAIL (India) Limited, Indian Oil Corporation Limited, NTPC Limited, ONGC and SAIL are a part of Maharatna.
10. Power Grid Corporation of India
The Power Grid Corporation of India Limited also called POWERGRID is an electric utility company.
Image: company website
It is state owned having its headquarters in Gurgaon. POWERGRID is responsible for transmitting half of the total power generated in India.
POWERGRID was incorporated on October 23, 1989 under the name National Power Transmission Corporation Limited. It started operating under its current name since October 23, 1992.
The chief functions of POWERGRID are as follows:
• Providing a transmission system for the purpose of evacuating the central power sector
• Establishing and operating regional as well as national power grids across the regions
POWERGRID was given recognition as a Mini-ratna category I in 1998 and ultimately given the status of a Navratna by the Government of India in 2008. POWERGRID operates throughout the country. The telecom company of POWERGRID known as POWERTEL has a presence in over 200 cities across India.
POWERGRID also faced two instances of transmission network failures in 2012. The first was on 30th July 2012, when the Northern Region Grid experienced widespread outage owing to grid disturbance. The Northern Region Grid provides power supply to nine states in northern India. Work began immediately to tackle the situation and the power was restored. However, on 31st July 2012, power failure was witnessed for the second time with the Northern Region Grid collapsing again along with the Eastern transmission lines. Power supply was disrupted in the states of Delhi, Uttar Pradesh, Punjab, Haryana, West Bengal and Assam.
POWERGRID is listed in both BSE as well as NSE. Initially, it managed transmission assets of NTPC, NHPC and North-Eastern Electric Power Corporation Limited. Later in 1993, the ownership of these were handed over to POWERGRID.