The decline in PSU stocks has led to a decrease in the benchmark Sensex and Nifty, with the Sensex losing over 450 points. The Nifty Bank index has also fallen below 45,000. This decline has not been limited to banking names, as rail PSUs like RVNL, IRFC, IRCTC, and BEML have seen drops of 8-10% each. Power PSUs like SJVN, NBCC, and NHPC have experienced decreases of 10-20%. However, defensives in the I.T. and pharma sectors have been among the top gainers.
Stocks in focus include Hero Moto Corp, Divi’s Labs, and Honasa Consumers after their Q3 earnings. Brokerages have adjusted their targets for these counters based on their performance. Meanwhile, Nandita Khemka and Yatin Mota discussed the highlights of the trading day on Closing Bell.
The decline in PSU stocks has caused a drop in the benchmark Sensex and Nifty. The Sensex lost over 450 points while the Nifty Bank fell below 45,000. This decrease was not limited to banking names only as rail PSUs such as RVNL, IRFC, IRCTC, and BEML saw drops of 8-10% each while power PSUs such as SJVN