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.
Shares of smallcap companies were in focus in Friday s trade as the S&P BSE Smallcap index hit a new high of 21,411, up 1 per cent, on the back of a strong rally in power, textiles, jewellery, industrial machinery, chemicals and packaging stocks. The smallcap index surpassed its previous high of 21,389 touched on March 3, 2021. In comparison, the S&P BSE Sensex was up 0.73 per cent and the S&P BSE Midcap index was up 0.82 per cent. Shares of Vascon Engineers, Mahanagar Telephone Nigam Limited (MTNL), BGR Energy Systems, Reliance Power, Olectra Greentech, 3i Infotech and OnMobile Global from the smallcap index were locked in their respective upper circuit filters on the BSE today.
Shares of two state-owned companies, Mahanagar Telephone Nigam Limited (MTNL) and HMT rallied up to 17 per cent on the BSE in intra-day trade on Wednesday, hitting their respective fresh 52-week highs, amid heavy volumes. In the past two weeks, these stocks have zoomed up to 78 per cent, against less than 1 per cent gain in the S&P BSE Sensex.
MTNL s stock surged 17 per cent to Rs 21.25 on the back of three-fold jumped in trading volumes. A combined 41 million equity shares of the telecom services provider changing hands on the counter on the NSE and BSE, till 01:06 pm.
In the past two weeks, the has stock soared 78 per cent from the level of Rs 11.92 on February 24, on reports that the Centre has identified real estate and land assets of state-owned telecom services provider to kick off the ambitious PSU asset monetisation programme.