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.
Zomato and Trent have led the Nifty 100 index with stellar returns, with Zomato shares generating a tremendous return of 207% and Trent shares rewarding shareholders with a massive return of 192%.
Rural Electrification Corporation (REC) topped the list with a remarkable 250% return in CY23, marking its most substantial yearly gain since 2009. In today s trade, the stock touched a new all-time high of ₹412 apiece.
Defence PSU stocks: The domestic equity benchmark the BSE Sensex has delivered merely 2.20 per cent gains at 59,543.96 from 58,253.82 on December 31, 2021. However, defence PSU stocks have performed exceptionally well in the same period.