Market Watch

Thursday, 19 June 2014

Stock Market Alert: PSU Stocks with High Govt Stake Drop

The S&P BSE Sensex recoverd from its intraday lows in a rangebound trade on Thursday, led by gains in BHELBSE 0.48 %, Infosys, WiproBSE 1.27 % and ITCBSE 0.98 %. 
The 30-share index was at 25,217.07, down 29.18 points or 0.12 per cent. It touched intraday high of 25,425.85 and a low of 25,069.66 in trade today.
Many PSU stocks declined after reports indicated that the Securities and Exchange Board of India (Sebi) at its board meeting today has ruled that all listed state-run companies should have at least 25% public shareholding in three years.
Shares of companies whose fortunes are linked to orders from Indian Railways rose on reports the government is moving swiftly to allow foreign direct investment in railways. Among FMCG stocks, Colgate Palmolive (India) hit 52-week high. VIP Industries and D B Realty hit 52-week high. Rallis India and MindTree scaled record high.

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