Strategic listing

What is common to Hindustan Aeronautics, Mazagon Dock, Bharat Dynamics, Mishra Dhatu Nigam, Bharat Electronics and BEML? Well, they are all profitable public sector undertakings (PSU) under the Ministry of Defence with huge order book positions to supply products – from combat aircraft, warships and missiles, to super-alloys, radar systems and defence ground support equipment – for which there is very little competition from others. Yet, none of these, barring the last two, are listed and they never figure in official disinvestment plans.

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