Oil India upgrades to Maharatna, ONGC Videsh to Navratna

07 Aug 2023 CW Team

The central government has elevated Oil India (OIL), a central public sector enterprise (CPSE) in the petroleum sector, to the status of Maharatna, resulting in a total of 13 Maharatna companies.

This transition grants the OIL Board increased authority in making financial decisions. OIL boasts an annual turnover of Rs 410.39 billion and a net profit of Rs 98.54 billion.

The existing roster of 12 Maharatna CPSEs includes REC, Power Finance Corporation, Bharat Heavy Electricals, Bharat Petroleum Corp, Coal India, GAIL (India), Hindustan Petroleum Corp, Indian Oil Corp, NTPC, Oil & Natural Gas Corp, Power Grid Corp of India, and Steel Authority of India.

For a company to attain Maharatna status, it must be listed on an Indian stock exchange and maintain an average annual turnover exceeding Rs 250 billion over the preceding three years.

In addition, the government has promoted ONGC Videsh (OVL) to the rank of Navratna, adding to the count of Navratnas, which now totals 14.

OVL has achieved an annual turnover of Rs 116.76 billion and a net profit of Rs 17 billion during the fiscal year 2022-23. India's CPSE landscape now comprises 13 Maharatna, 14 Navratna, and 74 Miniratna companies.

Infrastructure Transport

05 Feb 2026

MMRDA Installs 325-Tonne Steel Spans on Mumbai Metro Line 4

The Mumbai Metropolitan Region Development Authority (MMRDA) has achieved a key construction milestone on Metro Line 4 with the successful installation of three large steel spans at Bhandup West during overnight operations.The spans, together weighing 325 metric tonnes, were launched using eight heavy-duty cranes and 12 multi-axle vehicles. The operation required precise engineering and meticulous planning to minimise disruption in the densely populated suburban area.Due to effective inter-agency coordination, the work—originally scheduled across four nights—was completed within just two n..

CMRL Targets March 2027 Opening for Vadapalani–Panagal Park

Chennai Metro Rail Limited (CMRL) is progressing as scheduled to open the Vadapalani–Panagal Park section of Phase II’s Corridor 4 by March 2027. The 3.5 km underground stretch is part of the 26.1 km Corridor 4 connecting Lighthouse with Poonamallee Bypass.Construction activities are advancing steadily, with tunnelling works between Vadapalani and Panagal Park already completed. Track-laying operations are expected to commence shortly. At Panagal Park station, structural works have reached the concourse and platform levels, while excavation continues at the lowest level.CMRL is also consid..

Maha-Metro Invites Pune Metro Civil Maintenance Bids

Maharashtra Metro Rail Corporation Limited (Maha-Metro) has invited bids for the annual civil maintenance contract of the Pune Metro Rail Project. The tender, bearing ID and number P1-O&M-20/2025, is scheduled to close on 23 February 2026, with a pre-bid meeting slated for 10 February 2026. The earnest money deposit (EMD) for the contract is Rs 3,50,500, and the duration of the contract is one year.The scope of work includes annual civil maintenance of 28 elevated and underground stations, 28.079 km of elevated viaduct including steel bridges, 12.15 km of tunnels, and two depots under the ..