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India Business News: Investors believe that India's state-owned stocks will continue to rally due to PM Modi's expected re-election, which will support capital expenditure
Modis government is spending billions of dollars on everything from roads and railways to defense, renewing interest in a sector that has for long been a straggler of Indias $4 trillion stock market. The S&P BSE PSU Index, a gauge that includes some of the nations largest power utilities, miners, oil refiners and engineering firms, has surged 44% thus far in 2023.
Modi’s government is spending billions of dollars on everything from roads and railways to defense, renewing interest in a sector that has for long been a straggler of India’s $4 trillion stock market.