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GAIL, BEL, GMDC: Bullish PSU stocks may see up to 20% upside

Despite benchmark indices witnessing corrective phases in recent months, GAIL (India) and Power Grid Corporation of India, in particular, have been entering uncharted territories effortlessly.

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PSU stocks may see robust upside in coming sessions

Avdhut Bagkar Mumbai

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Shares of listed Gujarat based PSUs (Public Sector Undertaking) such as Gujarat State Fertilizers & Chemicals, Gujarat Mineral Development Corpn and Gujarat Narmada Valley Fertilizers and Chemicals locked in their respective upper circuits on Tuesday after the state government announced a new policy for minimum level of dividend distribution and bonus shares to the shareholders. 

Other PSUs like GAIL (India), Power Grid Corporation of India and Bharat Electronics could follow suit, as they all trade at the higher range of their respective peaks. 

Despite benchmark indices witnessing corrective phases in recent months, GAIL (India) and Power Grid Corporation of India, in particular,

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First Published: Apr 27 2023 | 12:09 PM IST

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