February 18, 2024
Sharp Decline in Indian PSU Stocks
Finance Stock Markets

Sharp Decline in Indian PSU Stocks Due to Weak Financial Performance

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.

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