LIC IPO: If investors agree with those calculations proposed by the government, LIC would join the league of India's biggest companies like RIL and TCS
In the last 10 years, though PSU stocks have gained ground, they have mostly been laggards at the bourses
The government will sell 5% or 48.3 million shares in the copper miner at Rs 116 apiece on Thursday and Friday
Only the company's chairman and four managing directors are allowed to comment on the offer expected this financial year.
In past one month, the S&P BSE PSU index has rallied 17%, as compared to a 6% gain in the benchmark S&P BSE Sensex.
Hindustan Copper, BHEL, Cochin Shipyard and STC India from the S&P BSE PSU index were up in the range of 4 per cent to 8 per cent on the BSE today
Out of these 42 stocks, 28 stocks have not seen any negative crossover above the zero line and are trending upward with price witnessing buying at corrective moves.
Midhani hit the upper circuit of 20 per cent at Rs 253, also its new high on the BSE on Thursday on heavy volumes. In the process, it surpassed its previous high of Rs 249
Shares of public sector undertakings have been moving up the bourses
Among its constituents Coal India rose 7.3 per cent, ONGC 5.3 per cent, BPCL 4.5 per cent, and Nalco and Indian Oil by above 3 per cent each
The finance ministry has short listed 11 PSUs for a possible buyback of shares in the ongoing financial year