Could FY20 see more buybacks in PSU stocks? Emkay gives tips on how to play the buyback wave
Updated : September 12, 2019 02:08 PM IST
Overall, buybacks can accrue proceeds of Rs 29,500 crore to the government in FY20 as against Rs 10,700 crore in FY19, Emkay said in a report.
The report prefers PSU stocks that have a decent cash balance and the room to lever up and a reasonable room for the government to cut stake.
Among the larger PSU stocks, a rise in the government’s buyback activity could be best played through Oil India, Bhel, ONGC and Nalco, the report said.
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