BHEL, BEL, BEML, Oriental Bank of Commerce, Power Finance have rallied more than 5%

Shares of public sector undertakings (PSUs) gained on Tuesday after Monday evening’s exit poll data projected the Bharatiya Janata Party–led National Democratic Alliance (NDA) crossing the majority mark of 272 seats in the Lok Sabha.

If the NDA’s tally surpasses UPA’s 259 tally, the new government may well be one of the strongest in recent times with the party not needing to go in for any hard bargaining with post-poll allies. This assumes more significance for the PSU stocks that, over the past few years, have been waiting for a policy boost for a change in their fortune.

Among individual stocks, Bharat Heavy Electricals Limited (BHEL), Bharat Electronics, BEML, Oriental Bank of Commerce, Power Finance, Indian Oil (IOC), OIL India and Hindustan Copper are among few have rallied more than 5% each on the Bombay Stock Exchange (BSE).

The S&P BSE PSU index, a gauge for state-owned shares, rallied 2.5 per cent as compared to a 1.4 per cent rise in the benchmark S&P BSE Sensex. Thus far in 2014, the index has moved up nearly 21 per cent, as compared to a 13 per cent rise in the benchmark index

Source: Business Standard

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