ONGC has been in the news a lot these days. This represents a totally new approach for PSUs. A professional approach. I think this is a whole new perspective Indian companies have nowadays .. they are getting to know themselves better. They know they can compete in international markets. The way these companies are carrying themselves shows a new confidence. ONGC in particular has been eager to make investments in foreign soil, participate in exploration of new fields and set up infrastructure where it is lacking. This not only generates some amount of goodwill, but also strengthens the PSUs hold on other markets.
P.S.: No, I dont own ONGC stock.
Disinvestment paying off? Reportedly, Buffett inested a billion dollars in ONGC - about half the size of the offering!
http://www.rediff.com/money/2004/mar/05buffet.htm
Although that [~5%]still does not give him a controllling stake, he can be persuasive about business and management practice changes...
Posted by: Chinmay at January 18, 2005 01:50 PM