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 | SBIN | ₹945.1 | — | ₹8,57,476 Cr | — |
| COALINDIA | COALINDIA | ₹398 | — | ₹2,49,591 Cr | 45.2% |
| NTPC | NTPC | ₹301.8 | — | ₹2,90,900 Cr | 13.0% |
| POWERGRID | POWERGRID | ₹251.75 | — | ₹2,29,725 Cr | 17.9% |
| ONGC | ONGC | ₹229.85 | — | ₹2,87,384 Cr | 14.6% |
| IOC | IOC | ₹131.75 | — | ₹1,84,776 Cr | 22.8% |
| BEL | BEL | ₹367.95 | — | ₹2,65,346 Cr | 24.4% |
| HAL | HAL | ₹4,855 | — | ₹3,19,342 Cr | 26.2% |
| PFC | PFC | ₹315.6 | — | ₹1,05,042 Cr | 19.5% |
| RECLTD | RECLTD | ₹286.5 | — | ₹78,523 Cr | 20.4% |
| GAIL | GAIL | ₹165.68 | — | ₹1,10,646 Cr | 12.9% |
| BHEL | BHEL | ₹399.9 | — | ₹1,37,384 Cr | 1.1% |
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.