Most of companies are owned by the Govt/Public sector. and that too most of them are oil, Petrol and Gas companies. It is the peoples money, the govt. has squeezed the common to the fullest extent by raising the prices of these products. But still the govt. sheds crocodile tears, stating the petrol prices are high and they are unable to cope without raising the prices. This is how they balance sheet shows such a huge profit.
god only knows how the reliance makes money, oil companys making with value of that fuel, the true nation building and pride for indians is TaTa's and L&T ites,as they are proffessionaly well managed comapnies we can get the details and easily catch corrupt and corruption and they are the true nation building companies and stand by their own reputation
Re: it is shame to reliance company to keep in 2nd spot
by shrikanth on Nov 20, 2010 09:51 AM
my dear friend L&T is a part of reliance group. it was earlier owned by tatas.
Oil companies have inherent advantage of being a process industry, are able to have an officer oriented manpower structure with less IR problems.The manufacturing industry do not have this luxury and that is why have relatively difficult IR task.In fact compared to the pvt. oil companies , all the Oil PSUs are over manned many times, especially the support staff, the HR & FIN deptts with perhaps every one 'staff' personnel for not more than 3-4 line personnel.If only the manpower of the oil psus could be rationalized, the profitability of oil companies would be much higher.Further companies like ONGC in all likelyhood are still carrying huge amount of unproductive inventories which eat into their profit.In a way the tax payer is made to pay for all this.
