Bull run in PSU shares faces earnings risk
Friday, 16 February 2024
Ruchit Jain advises caution in betting on a broad rally in India's state-owned firms. Recent earnings of SJVN Ltd and Rail Vikas Nigam Ltd offer little support. Jefferies sees potential for re-rating due to governance improvements, infrastructure spending, and maximizing value of state assets. For now, the PSU indexβs relative strength index β a gauge of price momentum β is at the highest level in more than two decades.
|
||||
|
|
||||
You Might Like |
||||
