Shares of listed Gujarat based PSUs (Public Sector Undertaking) such as Gujarat State Fertilizers & Chemicals, Gujarat Mineral Development Corpn and Gujarat Narmada Valley Fertilizers and Chemicals locked in their respective upper circuits on Tuesday after the state government announced a new policy for minimum level of dividend distribution and bonus shares to the shareholders.
Other PSUs like GAIL (India), Power Grid Corporation of India and Bharat Electronics could follow suit, as they all trade at the higher range of their respective peaks.
Despite benchmark indices witnessing corrective phases in recent months, GAIL (India) and Power Grid Corporation of India, in particular, have been entering uncharted territories effortlessly.
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