CPSE ETFs debut; select PSU stocks under pressure

The Units of Goldman Sachs Mutual Fund- CPSE ETF are listed on the exchanges today.

SI Reporter Mumbai
Last Updated : Apr 04 2014 | 10:33 AM IST
Shares of public sector undertakings (PSUs) companies which constituted the Central public sector enterprises or CPSE Exchange Traded Fund (ETF) are trading lower by up to 7% on the bourses.

Excluding Coal India, which trades at a marginally higher by 0.23%, the remaining nine companies - Container Corporation of India, Engineers India, Oil India, Bharat Electronics, Rural Electrification Corporation, GAIL India, Power Finance Corporation, Indian Oil and Oil & Natural Gas Corporation are down in the 1-6% on at the NSE.

The Units of Goldman Sachs Mutual Fund- CPSE ETF, an open-ended Index Exchange Traded Scheme, a Rajiv Gandhi Equity Savings Scheme (RGESS) Qualified Scheme, are listed and admitted to dealings on the exchanges today.

At 1013 hours, the CPSE ETF is trading higher by 8.54% at Rs 18.94 against its allotment price of Rs 17.45 on the NSE.  The CPSE ETF opened at Rs 18 and touched a high of Rs 19.25 so far. Around 27.77 million shares have changed hands, the NSE data shows.

Among the individual stocks Container Corporation has tanked nearly 7% to Rs 864, while Bharat Electronics and Oil India are down 3% each at Rs 1,055 and Rs 477 respectively.
 

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First Published: Apr 04 2014 | 10:22 AM IST

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