Shares of RailTel Corporation of India ended today s session with a drop of 20% at ₹308.25. However, the stock still holds a 183% gain in a year. Similarly, Ircon International witnessed substantial selling pressure, with its stock finishing today s session with a drop of 10.77%.
The BSE PSU index, reflecting the performance of public sector enterprises, surged by 1.2% to reach 16,698 points. Notably, it rebounded from the previous day s low of 15,838, marking a 5.2% recovery.
17 Indian public sector companies now have a market capitalisation above ₹one lakh crore, with eight joining the club in the past year. LIC emerged as the most valued PSU firm, surpassing SBI, while ONGC secured the third spot.
FIIs have been increasing their stake in the firm steadily, but the majority of the increase happened in the most recent quarter. Back in the September 2023 quarter, FIIs stake stood at 11.4%.