Sharp Decline in Indian PSU Stocks Due to Weak Financial Performance

Sharp Decline in Indian PSU Stocks

VoM News Desk | February 12, 2024 | 02:00 PM IST | Breaking News | Follow on Google News

Sharp Decline in Indian PSU Stocks Due to Weak Financial Performance

Sharp Decline in Indian PSU Stocks Due to Weak Financial Performance

Shares of Indian state-owned companies experienced a significant downturn in today’s trading session, resulting in a 4% drop in the S&P BSE PSU index by noon.

This decline is attributed to the weak financial performance reported by major companies, prompting investors to book profits after a recent sharp uptrend in share prices.

All 56 constituents of the PSU index are currently trading in the red, with SJVN emerging as the top loser, dropping nearly 19% due to lacklustre Q3 performance.

Railway PSU stocks are also witnessing a decline due to underperformance in the December quarter.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.