The BSE PSU Index has doubled to 18,918.03 in the current fiscal year through 20 February as mutual funds and retail investors have stepped up buying stocks with relatively lower free float
Organized labour unions with clear political affiliations have been the face of bank activism for long. They stage physical protests, marches with flags and at times resort to strikes. But, how younger employees from state-owned banks agitate is changing.
With improving fundamentals backing the rally in PSU Banks, Nifty PSU Bank index is expected to hit new highs. However, a rally in 2024 that matches the one in 2023 is unlikely. Experts advise cautious optimism in the top-performing index of 2024.
PSU re-rating, however fast and furious, should not be taken lightly, believes brokerage house Emkay. With elections coming soon and investors remaining open to all ideas, as long as a risk/return playoff makes sense - Unless you are averse to buying PSUs, this seems like a no-brainer, it said.
Once seen as wealth destructors, PSUs, including state-run banks, have turned out to be the biggest wealth creators over the past year. Will the winning streak hold? Read on