The Nifty PSU Bank index jumped 28 per cent in the year 2023 so far (as of December 20) while the benchmark Nifty 50 gained about 17 per cent in the same period.
Tata Power saw higher top and higher bottom formations on the daily chart. It is a sign of strength. At present, the stock is consolidating the previous rise.
In August, Prime Minister Narendra Modi said in a jest that stock market investors should invest in PSUs which were criticised by the Opposition in the past. PM s light-hearted advise on the floor of the Lok Sabha led to PSU stocks surging over the last one month as shares of some PSUs seem to have caught the eyes of investors. Watch this Visual Story to see PSU stocks that have surged up to 85% in once month since PM s remark.
Outgoing Jet Airways CEO-designate Sanjiv Kapoor said India needs at least four strong airlines, given the size of the aviation market in the country after Wadia Group’s Go First airline announced bankruptcy. Read his take here