REC, PFC, Rail Vikas Nigam among 14 PSU, invigorated stock between 100-250 % in CY23
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.
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It should be noted that July superseded the monthly gains with a remarkable rally of 23.26 per cent closely followed by September with a gain of 20.43 per cent.
Read Also : RVNL Q2: Net Profit fell by 27%, EBITDA misses estimates by 9%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.
Read Also : Oil India secures critical mineral block in Arunachal PradeshFollowing 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.
Read Also : NTPC Bongaigaon Celebrates 50th Raising Day with Grand Festivities and Community SpiritNews Must Read
- Glowing 50 years of NTPC Limited
- PESB Recommends Vilas Sopan Wadekar for MRVCL CMD Position
- Oil PSUs to join Private forces for worth USD 45 billion project
- RBI revises KYC norms to co-ordinate with money laundering rules
- RITES Ltd Q2 results, standalone revenue at Rs 475 crore, declares interim dividend
- Power Grid reports 1.8% rise in consolidated net profit, EBITDA margin stood at 86%
- NTPC to invest Rs 80k cr for 6,400 MW thermal capacity, stock jump over by 0.8%
- IDFC FIRST Bank to offer real-time tracking for international money transfers
- Oil India Limited Reports H1FY25 PAT of Rs 4,085.46 Crore, 5.5% increase in crude oil production
- GAIL shares rallied over 6.5% post Q2 results, reported revenue of Rs 32,931 crore