BEML, RCF: Divestment may trigger a breakout in PSU stocks, charts show

If the Nifty PSE Index sustains above 2,800 levels on the closing basis, it may see a rally towards 3,100 levels

Shares of public sector undertakings (PSUs) garnered traction on Monday after the government invited bids for strategic divestment in BEML, a defense and engineering company. Nifty PSE Index advanced as much as 1.5 per cent on the National Stock Exchange (NSE) in the intra-day day. At 11:45 am, the index was up 1 per cent, as against a 0.23 per cent gain in the benchmark Nfty50 index. 

On Sunday, DIPAM said the government will sell 26 per cent out of the total 54.03 per cent stake it holds in the company along with transfer of management control. In effect, the shares