PSU stocks in focus; ITI surges 20%, BHEL gains 15%, Coal India up 8%

Shares of public sector undertaking (PSU) companies were in focus on the bourses on Thursday with the S&P BSE CPSE (up 2.4 per cent) and S&P BSE PSU index (up 2.1 per cent) gaining over 2 per cent each on the back of positive reports on coal, power, and telecom sectors. In comparison, the S&P BSE Sensex was up 1 per cent at 33,855 points at 01:27 pm.

Telecom equipment providers ITI hit 20 per cent upper circuit at Rs 108 on the BSE. The stock has rallied 33 per cent in the past two trading days after the Department of Telecommunications (DoT) reportedly asked state-owned Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam (MTNL) to exclude Chinese gearmakers from supplying 4G telecom equipment. Private telecom operators have been asked to consider staying away from such Chinese firms.