Indian state-owned companies stocks surged in FY24, outperforming mid- and small-cap stocks. BSE PSU index nearly doubled, boosted by govt s capex spending hike and anticipated BJP victory. Railway, power, defence, and oil sectors also showed impressive gains.
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.
Shares of railway PSUs, including IRFC, Rail Vikas Nigam, Ircon International, IRCTC, and RailTel Corporation, plummeted between 7-14% in today s trade due to profit booking.
PSU stocks, and within that the Railway PSUs, have had a stellar run on the bourses in the last one year RVNL (up 155 per cent), Ircon (215 per cent), IRFC (208 per cent) and RailTel (182 per cent) have all been outstanding
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