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In 2024, the BSE PSU index surged by 23%, marking a four-year rally. This index tracks 63 state-owned companies and has shown impressive growth. The index started the year at 15,650 points and reached 19,115 points by the end of the year.
Several factors contributed to this growth, including government initiatives like Make in India, increased capital expenditure, and political stability. These factors boosted investor confidence and led to strong gains for many companies.
Rail Vikas Nigam and Cochin Shipyard were among the top gainers. Rail Vikas Nigam saw a 136% increase in its stock price, while Cochin Shipyard gained 116%. Other notable performers included Mazagon Dock Shipbuilders, which gained 106%, and NBCC (India) with a 72% increase.
Despite the strong performance, some stocks did not fare well. Jammu and Kashmir Bank, Gujarat Mineral Development Corporation, and Mishra Dhatu Nigam were among the few that ended the year with losses.
Overall, the BSE PSU index’s performance in 2024 reflects the positive impact of government policies and investor confidence in state-owned enterprises.
