Share Market News: PM Modi’s Advice on PSU Investment Records Surge in Stocks

14 Oct, 2023 Author: Ayushee Joshi

PSU Stocks News: In his No Confidence Motion Debate in August 2023, Prime Minister Narendra Modi emphasised investing in PSUs and advised investors to purchase PSU stocks for better returns. Since then, the PSU stock market has seen a tremendous spike in investments in recent months. During his address at the Lok Sabha, PM Modi in a light-hearted statement said, “Here’s a gurumantra for those who follow the stock markets: Place your bets in those PSUs which they (the opposition) abuse. Your money will surely grow.”

PSU Stock Market Growth

Over the previous month, over 80% of the 55 PSU equities that form both the BSE PSU and BSE PSU Bank indexes have seen their shares jump anywhere from 10% to 75%. Talking about the stocks that were mentioned by PM Modi during his speech, Hindustan Aeronautics Limited (HAL) stocks went from Rs 1,976 to Rs 1,895. Meanwhile, there has been a 0.93% decline in the LIC stocks, which are now trading a Rs 534.