LIC cuts stakes in 16 PSUs, profit booking seen. Portfolio value surges to Rs 14 lakh crore in 2024, up by Rs 1.6 lakh crore. Market cap of PSU stocks rises to Rs 67 lakh crore.
Positive commentary and target price hikes from CLSA and Jefferies also buoyed the shares, helping the Nifty Metal index surpass the 9,000 mark to hit a lifetime high. The index ended at 8,999.60, up 1% over the previous trading session. Benchmark indices ended half a per cent higher each.
Q3 Results Today: Mahindra & Mahindra, NMDC, Muthoot Finance, The Fertilisers and Chemicals Travancore, Gland Pharma, Sun TV Network, Aditya Birla Fashion, and Retail, Glenmark Pharmaceuticals are among the top companies scheduled to release their quarter 3 2024 results on February 14
DIPAM, which manages government equity in public sector companies, is also working on privatisation of CPSEs where preliminary Expressions of Interest (EoIs) has been received from prospective bidders. Pandey said the companies where EoIs have been issued and where initial bidder interest has already come in, those will be pursued in next fiscal.