NEW DELHI: Shares of many ‘multi-bagger’ state-owned companies took a big beating on Monday as muted third-quarter earnings numbers and lack of fresh triggers are said that jittered investors’ sentiments and raised valuation concerns.
The BSE PSU index, the key barometer of PSU (public sector undertaking) stock, fell 4.44% on Monday to close at 17,564 points. The selloff was so widespread that of the 56 constituents of the index, 55 ended the session in red. Only Power Grid Corp managed to close with a little gain of 0.02%.
