The navratna for India's biggest public sector companies is proving to be a fitting one. For, in the past one year, the government has become wealthier by over Rs 3,14,000 crore or $78 billion thanks to the appreciation in the stock prices of public sector undertakings and new listings. And that's not all, the government earned a cool Rs 16,000 crore as dividend from the 58 listed central PSUs last year alone.
There have been a number of star performers in the Government portfolio. The biggest contributor to GoI wealth has been NTPC. The market value of government holding in the power major is now $23 billion, which is an increase of $13 billion. Next in line is minerals and metals trader MMTC, which has contributed $11 billion to the rise in government's net worth. The once mired under a mountain of debt and steeped in losses Steel Authority of India (SAIL), is now one of the biggest wealth creators in the business.
The market capitalistion of the country's largest primary steel producer has more than doubled in last one year to nearly Rs 68,000 crore. This has created an additional wealth worth $10 billion for the government. Other big contributors include recently listed Power Grid Corporation, Bharat Heavy Electricals and State Bank of India and Power Finance Corporation.
Some PSU Stock Picks For Longterm :
Power Finance Corp (PFC) -- Target -- 265 +
Power Grid Corp -- Target -- 165 +
National thermal power corp ( NTPC ) -- Target -- 275 +
Power Trading Corp -- Target -- 130 +
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