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Indian state-owned companies' stocks surged in FY24, outperforming mid- and small-cap stocks. BSE PSU index nearly doubled, boosted by govt's capex spending hike and anticipated BJP victory. Railway, power, defence, and oil sectors also showed impressive gains.
The Nifty Smallcap 100 index in FY24 has gained 76.15%, spiking from 8,701 points to 15,327 points. 40 stocks have achieved multibagger status.
Suzlon Energy, India's largest renewable energy solutions provider, saw its stock soar by 426% over the past year, driven by strong order wins and financial performance. Indian Overseas Bank also delivered exceptional return, with its stock soaring by 160%.