The BSE PSU index underperformed the broader markets in 2018, losing 21 per cent, as against the Nifty and the Sensex that were up between 3 per cent and 6 per cent. In fact, over the last 10 years, the index has beaten the broader benchmarks only thrice. The last time the sector did better than the benchmark indices was in 2016, led by oil PSUs, select banks and power sector plays.
Since then, the sector has stagnated and is available at the same levels. The reason for the underperformance has been the flip-flop in government policies. While a number of these businesses have good ...
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