Measure seen as a bid to boost investor confidence in PSUs stocks
Brickwork Ratings said it will continue to monitor the strategic disinvestment process of BEML and take appropriate rating action as and when necessary
After touching Rs 1 trillion intraday on Tuesday, the firm's m-cap ended around Rs 71,000 crore on Wednesday
In the last 10 years, though PSU stocks have gained ground, they have mostly been laggards at the bourses
ONGC, PFC, Coal India, Indian Oil Corporation and NTPC from the CPSE index were trading at their respective 52-week highs level on the BSE.
Nifty adds 139 points and ends session at 17,519, up 0.8 per cent. Both the indices surpass their previous record close made on September 9
But share in total m-cap languishes below 10%, lower than long-term average of 13%
There is deep value in many PSU stocks as they have had significant valuation derating over the last 10 years
As per government disinvestment plans two public sector banks (PSBs) and one general insurance company is to be privatised in fiscal 2021-22 (FY22) and aims to raise Rs 1.75 trillion.
Hindustan Copper, RCF, MMTC, NBCC, Indian Overseas Bank, Bank of Maharashtra and Bank of India have rallied more than 50% in past one month.
On Thursday, the Nifty PSU Bank index, a gauge for the performance of state-owned banking stocks, rose 5.6 per cent
The equity markets will remain strong from the perspective of bottom-up opportunities, said MD Garre
PSU stocks like IRCTC, BPCL, RCF, and RITES have not seen aggressive selling pressure. A small recovery may see a strong bullishness going forward
Attractive valuations not enough to be positive on the entire sector, say experts
It has reacted negatively to her previous two budgets. This time too, it has come off over 5 per cent from the highs
Many stocks in this group are grossly undervalued, the fund managers told the Centre
IT Services has been the biggest beneficiary of Covid-19 pandemic and is now a mainstream growth driver rather than a one-off line item
Half a dozen PSU stocks have gained over 15% each
In the past decade, total market cap of top 17 PSUs has dropped 41% vis-a-vis a 91% rise in Sensex
In a Q&A, Naveen Kulkarni says earnings growth for F21 could go down to minus 15 per cent, depending on the extent of extension