Fund houses' holdings in PSU stocks rise to new highs

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So far in 2024, the BSE PSU index has gained 18 percent


Mumbai: In January this year, mutual fund houses in the country increased their holdings in shares of Public Sector Undertakings (PSUs) to a new high. Share prices of many PSUs have seen record highs due to fund raising.

The value of fund houses' holdings in PSUs also crossed Rs 4 lakh crore in January, which was Rs 2.33 lakh crore in January 2023. In December, this figure was Rs 3.70 lakh crore.

Even at high valuation, PSU remained attractive. The holding of fund houses in PSUs which was 5.72 percent in January 2023 has increased to 7.58 percent in January of the current year and this figure was 7.24 percent in December.

41 fund houses operating in the country invested in PSUs through 769 schemes. Which was invested through 692 schemes by 37 funds in January last year.

Among the PSUs that attract more funds are SBI, Coal India, Power Finance Corp.

Fund houses invested in 45 listed public sector undertakings in January 2018, which has now increased to 71, according to a research report.

So far in 2024, the BSE PSU index has gained 18 percent while the Nifty has gained only one percent. Last year too, PSU index performed better than Nifty.

A few years ago there was a general belief that government intervention in public sector undertakings resulted in poor performance. Due to poor performance, PSU stocks were also seen not offering high returns on investment.

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