PSU stocks steal limelight

PSU stocks are currently the movers and shakers on the bourses. The top gainers on the BSE are all PSUs, led by REC, Power Finance and other gainers like – Hind Copper, Indian Bank, Shipping Corp, Coal India, RCF, BEML, Engineers India, even HMT.

Apart from the fact PSU stocks have been major underperformers on the market for the past couple of years, there hope that the new Modi led Govt will spur up action, not just in the economy but will give impetus to PSU growth. Also during the campaign trail, Modi had made it amply clear that PSUs cane once again be made powerful if the management is empowered, as has been seen in Gujarat where he nurtured back to health several loss making PSUs.