2023 in Review: All 13 Maharatna stocks delivered positive returns last year, REC best performer; check full list

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BSE PSU index, reflecting public sector enterprises' performance, surged by 55% in 2023, surpassing the 18.74% return of the benchmark BSE Sensex index. Also Read: From Mazagon Dock Shipbuilders to IRCTC, 7 of 8 PSU stocks listed over last 5 years gave multibagger returns The railway stocks have been on investors' radar ever since the government raised the capital outlay for the Indian Railways in the Union Budget 2023-2024. In addition, the new shipping and rail transportation corridor linking countries across the Middle East, South Asia, and Europe announced at the G20 summit also added momentum to railway stocks.

It is worth noting that the performance of railway PSUs this year has been spectacular, as these stocks more than tripled investors' wealth in less than a year on the back of huge order inflows and improved financials. Also Read: RVNL, IRFC to RailTel: These 5 multibagger railway stocks rise up to 300% in YTD Defence stocks also doubled investors' wealth, fueled by strong order wins as the government focuses on boosting domestic procurement and reducing dependence on defence imports. Amid this backdrop, all 13 'Maharatna' stocks delivered positive returns in 2023, with some of them delivering multibagger returns.

'Maharatna' is a status assigned to certain large and financially sound Central Public Sector Enterprises (CPSEs) in India. The status is conferred by the Government of India, and these companies are considered to be leaders in their respective sectors. Power stocks took the lead, driven by a surge in power demand aligned with the uptick in economic activities.