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Bull run in India state-owned firms shares faces earnings risk

Companies in the BSE PSU Index beat analysts’ expectations by a mere 1% in the three months ended December, the slowest pace in six quarters, according to data compiled by Bloomberg.

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Bull Run in India State-Owned Firms Shares Faces Earnings Risk

Bull Run in India State-Owned Firms Shares Faces Earnings Risk
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Bull Run in PSU Shares Faces Earnings Risk | Indian News | India Business News

India Business News: The sizzling rally in India’s state-owned firms may be at risk of sputtering as earnings momentum fizzles and technicals show the run is now looking stretched. Companies in the BSE PSU Index beat analysts’ expectations by a mere 1% in the three months ended December, the slowest pace in six quarters. Recent earnings of several state-owned stocks offer little support.

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Rerating of high-flying PSUs has few more legs: Jefferies

Jefferies said the rerating in shares of public sector undertakings (PSUs) - the top performers in the past three months - has more legs citing cheaper valuations compared to the Nifty and the government s focus on value maximisation for these companies. SBI, Coal India, and NTPC are its top picks among state-owned companies.

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PSU re-rating not over yet, bets Jefferies and shares top 3 stock picks

PSU stocks have rallied, partly supported by the govt s capex push but sector-specific reasons have also helped. The PSU Bank index has advanced 78% YoY, outperforming the private banks by 70 ppt, while oil PSUs have seen a sharp rally since October 2023 as the govt chose not to cut auto fuel prices despite a busy election calendar and a drop in crude oil prices.

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