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PSUs seen extending dream rally on PM Modi bets
![IndiaTimes]()
Thursday, 7 December 2023
Investors believe that India's state-owned stocks will continue to rally due to PM Modi's expected re-election, which will support capital expenditure. The S&P BSE PSU Index, which includes power utilities, miners, oil refiners, and engineering firms, has surged 44% in 2023, outperforming the S&P BSE Sensex Index. Valuations of state-owned stocks remain low compared to non-state players, creating room for further gains. The government's infrastructure push and favorable policies are expected to boost the valuation of state-run companies, which have been ignored for a long time.
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Thursday, 7 December 2023
