India PSU Stocks — Government Capex Dividend Plays
India's Public Sector Undertakings (PSUs) are undergoing a structural re-rating. Government capex targets of ₹11 Lakh Crore, dividend mandates, and divestment optionality have made PSU stocks one of the best-performing buckets of 2023–2024. Power, defence, infra, and energy PSUs lead.
Stocks in this theme · India PSU stocks
19 companies in this theme — showing top 12 by dividend yield.
| Symbol | Company | Price | Div Yield | Mkt Cap | ROE |
|---|---|---|---|---|---|
| COALINDIA | Coal India Ltd | ₹428.4 | 6.3% | ₹2,62,162 Cr | 97.4% |
| RECLTD | REC Ltd | ₹360.65 | 5.0% | ₹94,427 Cr | 20.1% |
| IOC | Indian Oil Corporation Ltd | ₹142.03 | 5.0% | ₹1,97,627 Cr | 19.2% |
| ONGC | Oil & Natural Gas Corpn Ltd | ₹251.9 | 4.8% | ₹3,17,966 Cr | 10.2% |
| GAIL | GAIL (India) Ltd | ₹173.01 | 4.3% | ₹1,12,599 Cr | 9.6% |
| NMDC | NMDC Ltd | ₹83.34 | 4.0% | ₹72,532 Cr | 23.4% |
| BANKBARODA | Bank of Baroda | ₹245.75 | 3.5% | ₹1,25,561 Cr | 13.8% |
| CANBK | Canara Bank | ₹126.46 | 3.3% | ₹1,13,565 Cr | 18.1% |
| POWERGRID | Power Grid Corporation of India Ltd | ₹289.3 | 3.1% | ₹2,68,229 Cr | 16.6% |
| PNB | Punjab National Bank | ₹110.73 | 2.7% | ₹1,26,537 Cr | 12.5% |
| OIL | Oil India Ltd | ₹451.15 | 2.5% | ₹74,255 Cr | 9.5% |
| IRFC | Indian Railway Finance Corporation Ltd | ₹87.39 | 2.4% | ₹1,13,905 Cr | 12.8% |
Research Coverage
- Top 20 PSU stocks by FY25 capex allocation
- Defence PSU order book tracker: HAL, BEL, BHEL, GRSE
- Power PSU: NTPC, Power Grid, NHPC return on equity trajectory
- PSU divestment watchlist: candidates and timelines
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Frequently Asked Questions
Are PSU stocks good for long-term holding?
Select PSUs in high-capex sectors (defence, power, infra) are excellent long-term holds. PSU banks and legacy manufacturing have more governance risk.
What is CPSE ETF?
Central Public Sector Enterprises ETF — tracks Nifty CPSE index with 10 major PSU companies. Offers a diversified, low-cost PSU basket.