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 |
|---|---|---|---|---|---|
| SBIN | State Bank of India | ₹1,025.35 | — | ₹9,46,597 Cr | — |
| COALINDIA | Coal India | ₹428.25 | — | ₹2,63,888 Cr | — |
| NTPC | NTPC | ₹350.55 | — | ₹3,39,868 Cr | — |
| POWERGRID | Power Grid Corporation of India | ₹289.35 | — | ₹2,69,532 Cr | — |
| ONGC | Oil and Natural Gas | ₹251.9 | — | ₹3,15,936 Cr | — |
| IOC | Indian Oil | ₹141.85 | — | ₹2,00,254 Cr | — |
| BEL | Bharat Electronics | ₹406.8 | — | ₹2,97,362 Cr | — |
| HAL | Hindustan Aeronautics | ₹4,578.95 | — | ₹3,05,819 Cr | — |
| PFC | Power Finance | ₹412.3 | — | ₹1,36,014 Cr | — |
| RECLTD | REC | ₹360.6 | — | ₹94,967 Cr | — |
| GAIL | GAIL (India) | ₹173.1 | — | ₹1,13,906 Cr | — |
| BHEL | Bharat Heavy Electricals | ₹416.3 | — | ₹1,45,011 Cr | — |
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.