LIC Overtakes SBI To Become India¡¯s Most Valuable PSU Stock; These Are India's Top 5

One and a half years after losing the title to SBI, LIC has today surpassed India's largest public sector bank to become the most valuable PSU stock. Life Insurance Corporation of India (LIC) has overtaken the market cap State Bank of India (SBI), to reclaim its title of being the most valuable public sector stock.

LIC Surpasses SBI To Become Most Valuable PSU

lic becomes most valuable psu/shutterstock

Until today morning, SBI was India¡¯s most valuable PSU stock. But now LIC¡¯s market cap, which at present stands at Rs 5.65 lakh crore, has surpassed that of SBI, which is Rs 5.6 lakh crore (at the time of writing this report).

LIC¡¯s shares have been having a decent run this month, having jumped nearly 4% already. On the other hand, SBI losing its title as India¡¯s most valuable PSU comes amid its stock dropping nearly 2.5% this month.

sbi loses most valuable psu title to lic/ET

India¡¯s Top 5 PSU Stocks

1.Life Insurance Corporation of India (LIC)

Funded in 1956, LIC is India's largest insurance company, and now also the most valuable PSU stock. In May 2022, the insurance had launched India's biggest ever IPO. LIC's share price is currently trading around the Rs 892 mark, and has a market cap of Rs 5,65 lakh crore.

2.State Bank of India (SBI)

India's biggest public sector bank SBI has been running since the year 1955. It is currently the second most valuable PSU stock, with a market cap of Rs 5.6 lakh crore, and trading at a share price of Rs 624.

3.National Thermal Power Corporation (NTPC)

Founded in 1975, NTPC Limited, which was formerly known as National Thermal Power Corporation, is PSU under the ownership of the Ministry of Power and the Government of India. NTPC is primarily engaged in the generation and distribution of electricity to the State Electricity Boards across India. NTPC share price currently trades around the Rs 311.8, and its market cap stands at Rs 3.02 lakh crore.

4.Oil and Natural Gas Corporation (ONGC)

ongc psu/ET

Founded in 1956, the Oil and Natural Gas Corporation Limited (ONGC) is a PSU under the ownership of Ministry of Petroleum and Natural Gas, Government of India. It is India's largest crude oil and natural gas producer. ONGC share price currently trades around the Rs 233 mark, and its market cap stands at Rs 2.93 lakh crore.

5.Coal India

Founded in 1975, Coal India Ltd is a PSU under the ownership of the Ministry of Coal, Government of India. It is among the largest coal producing companies in the world. It currently has a share price of Rs 381, and a market cap of Rs 2.35 lakh crore.

Also Read: Explained: At Rs 1 Lakh, Why Is MRF The Most Expensive Stock In India

What Are Public Sector Units (PSUs)?

Public Sector Undertakings (PSU), also referred to as Public Sector Enterprises (PSE), are government-owned companies in India. 51% or more share capital in PSUs is held by the government of India or state governments, or it may also be a joint venture between multiple public sector enterprises.

Categories of PSUs In India

Depending on the level of government ownership in the PSU, they can be broadly categorised as Central PSUs or State PSUs. PSUs in India are officially categorised as Central Public Sector Enterprises (CPSE) and Public Sector Banks (PSB), which are owned by the central government or other CPSEs/PSBs, and State Level Public Enterprises (SLPE), which are owned by state governments or other SLPEs. Also, depending on their financial performance and growth, central PSUs are further granted the status of Maharatna, Navaratna, and Miniratna.

PSU Recruitment Exams In India

Every year, many exams are conducted all over India for recruitment in PSUs. Some of the PSU recruitment exams in India are: BARC Recruitment, BEL , BPCL,DRDO,India Post GDS Recruitment, IOCL Recruitment,etc. Many PSUs also consider GATE Exam's results for recruitment.

For the latest and more interesting financial news, keep reading Indiatimes Worth. Click here