PSU stocks surge to record highs

Shares of Gujarat PSUs rallied sharply after opinion polls predicted Modi as next PM

GN Bureau | May 21, 2014



Shares of more than a dozen central government public sector units (PSUs) and companies promoted by the Gujarat government hit their 52-week highs on Tuesday. The BSE PSU index has soared 13.7% in the past week alone — the best performance among sectoral and benchmark indices.

Shares of PSU behemoth BHEL have jumped 27% in the last one week. PSUs such as NTPC, NMDC and Power Grid Corporation have also seen a sharp increase in their share prices. Shares of Gujarat PSUs rallied sharply in the run-up to the general elections after opinion polls predicted the BJP is within striking distance of capturing power. With Narendra Modi all set to take over as prime minister, the rally in PSU stocks has gathered further momentum, according to the news paper report.

Comments

 

Other News

Dharmendra Pradhan tenders resignation

Dharmendra Pradhan, education minister at the centre of the storm of the NEET paper leak, offered his resignation to the prime minister on Saturday.   He posted a two-page letter on X, saying he was pained by the events of the last ten days. "This is not a matter of personal

Cabinet approves scheme of chemical parks

The union cabinet chaired by the PM has approved Bharat Audyogik Vikas Yojana Rasayan or BHAVYA - Rasayan Scheme for establishing three dedicated Chemical Parks in the country. The Scheme was announced in the Union Budget of FY 2026–27.   The Scheme will have a total financ

Anurag Jain, IAS appointed as Chief Executive Officer, NITI Aayog

 Anurag Jain, a 1989-batch IAS officer of the Madhya Pradesh cadre, has been appointed as the Chief Executive Officer (CEO) of NITI Aayog for a two-year term after serving as the Chief Secretary of Madhya Pradesh. A distinguished administrator with extensive experience in infrastructure, industrial de

Shri Ashok Barnwal, IAS has been appointed as the Chief Secretary of Madhya Pradesh

 Ashok Barnwal, a 1991-batch IAS officer of the Madhya Pradesh cadre, has been appointed as the Chief Secretary of Madhya Pradesh, succeeding Anurag Jain following his appointment as CEO of NITI Aayog. Prior to assuming the state`s top bureaucratic position, Barnwal served as Additional Chief Secretar

PM announces fast-track courts for paper leak cases

Prime minister Narendra Modi on Thursday stated that the government has decided to set up fast-track courts to ensure swift and stringent punishment for those involved in paper leaks. Emphasising that nothing is more important than the welfare and future of the youth, he noted that h

Making India’s textile & apparel sector sustainable

India’s textile and apparel sector sits at the heart of the economy but is constrained by traditional manufacturing approach. It contributes close to 2% of GDP and around 11% of manufacturing gross value added, with GDP share expected to reach 5% by the end of the decade. The sector employs around 45

Upcoming Conferences





Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter