An analysis by Elara Capital indicates that the PSU sector performs well during election years
There is still great value in PSU banks, defense, oil marketing companies, and select monopolistic PSUs in the mining and minerals space
High valuations, limited earnings upgrade prospects warrant caution
Within in PSU space Bernstein prefers ONGC, Coal India, IOC, Bank of Baroda, GAIL, BPCL, Canara Bank, HPCL, Oil India and MRPL.
10 PSUs, with public shareholdings below 14%, ride the current, rallying 76% to 4.5 times
The recent outperformance (before the sharp fall in past sessions), Jefferies said, was helped by earnings per share (EPS) upgrades and return on equity (RoE) improvement.
Stocks to watch on Tuesday, February 13, 2024: IRCTC, BHEL, Hindalco, National Aluminium, Siemens and Zee Entertainment are few of the prominent companies scheduled to announce Q3 results today.
The S&P BSE PSU index has gained over 90 per cent in the last one year, rising much higher than the S&P BSE Sensex that has surged nearly 19 per cent during this period, show ACE Equity data
SBI news: Union Finance Minister Nirmala Sitharaman has reportedly said the government is open to the idea of disinvestment of equity stake in blue-chip public sector undertakings, including SBI
The stock hit a new all-time high at Rs 1,028 amid a sharp rally in public sector undertaking (PSU) stocks
According to SBI Capital Markets (SBICAPS), the enhanced profitability of public sector banks (PSBs) and CPSE is anticipated to contribute to improved dividend payouts
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The company had fixed January 10 as the Record Date for the proposed 2:1 stock split.
HAL hit a new high at Rs 3,039, and is now the seventh PSU to trade with a market capitalisation of more than Rs 2 trillion
The stock was seen trading at its highest level since October 2015, backed by strong volumes on the BSE and NSE.
The average trading volumes at the counter jumped four-fold with a combined 181 million equity shares of HUDCO changing hands on the NSE and BSE till 02:48 PM.
A K Prabhakar, head of research at IDBI Capital, too remains selective and suggests investors exit power sector stocks such as REC and PFC where the run up has been sharp
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The S&P BSE PSU index has surged over 26 per cent so far in FY24 as compared to 11 per cent up move in the benchmark S&P BSE Sensex.
The Nifty PSU Bank index hit an intra-day high of 4,516.75, trading close to its record high level of 4,647.95 touched on July 27