REC, PFC, Rail Vikas Nigam among 14 PSU, invigorated stock between 100-250 % in CY23

New Delhi: Rural electrification corporation topped the listed exchange market with a remarkable 250 per cent return in CY23, making itself the most profitable yearly gain since 2009.

Stocks of India's state-owned companies maintained the highest gain in 2023, marking the third consecutive year of gains. The BSE PSU index was stunned by an increase of 46.43 per cent this year so far reflecting public sector enterprise performance.

It should be noted that July superseded the monthly gains with a remarkable rally of 23.26 per cent closely followed by September with a gain of 20.43 per cent. 

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The increase in power stocks was attributed to a robust increase in power demand with a surge in economic activities, leading to benefit the power sector financing companies and supply chain companies.

During the union budget of FY23 the capital outlet displayed by Indian government for railways was amounted to Rs 2.40 lakh crore. This contribution was fueled by significant substantial returns processed by Railway PSUs which authenticated the major transformation within Indian railways.

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Following the same, Power Finance Corporation, the country's leading NBFC also saw a significant surge phenomenally. 

Rail Vikas Nigam shares grew by 161.17 per cent this year and they also recorded a new all-time high of Rs 199.25 per share.

Indian Railway Finance Corporation also emerged as another top performer in the BSE PSU index, with a remarkable return of 153 per cent.

Stock in the Defence sector:

On a notable stand, the defence sector also witnessed substantial gains with Mazagaon Dock Shipbuilders, one of the country's leading defence PSUs seeing an outstanding achievement of a return of 165.28 per cent in CY23. The Cochin shipyard triggered a robust 140 per cent assimilation growth with a monthly gain of 26.62 per cent in November. 

Exemplifying the pioneer one, the most recorded achievement was applauded by the renewable energy sector which has witnessed a significant upswing, fueled by India's ambitious goals to intensify sustainable energy sources, targeting 500 GW of non-fossil-based electricity capacity by 2030.

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