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Chart Beat: For PSUs, it is time for earnings catch-up
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The S&P BSE PSU index has nearly doubled in the last one year with the companies being seen as potential beneficiaries of the government's heightened focus on capital expenditure. PSU is short for public sector unit.
Now, to justify the valuations after the steep rally, earnings performance needs to catch-up meaningfully. An analysis by Yes Securities showed that PSU companies’ earnings performance lagged the Street’s expectations sharply in the December quarter (Q3FY24), falling to 2%, putting up the weakest in the past six quarters.
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