Feb 11, 2013, 08.15 PM | Source: PTI
The number of PSU stocks in the country's three stock indices - Sensex, Nifty and SX 40 - are few and far between, indicating a growing clout of private peers.
At the 30-share BSE benchmark Sensex, the number of PSU stocks is the lowest at just six. Similar is the case with the newly launched MCX SX's SX 40 index , where there are only 7 state-run entities.
The largest representation of government-owned companies is in 50-share Nifty index of which 10 are PSUs. "Private companies always far exceed state run companies when it comes to growth and profitability and this is being reflected in the composition of major benchmark indices of the country," Ashika Stock Brokers Research Head Paras Bothra said.
The situation, however, was not like this earlier and the dominance of state-run firms have decreased over the years post the liberalisation process of the government which began in early 1990s, said analysts.
"Now things have improved drastically. Government is taking several reformatory actions to improve business sentiment. Moreover, post-liberalisation new sectors emerged, exports opened up and doing business in India became a lot easier than earlier," Bothra added.
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