The role of public sector undertakings (PSUs) in the Indian economic structure remains significant, and they operate in various sectors including banking, power, mining, defence manufacturing, and infrastructure. These companies are either majority-owned or under significant control of the Government of India and are an integral part of the Indian-listed corporate space.
According to market data platform Dhan, India currently has 66 listed PSU stocks spanning multiple industries including oil and gas, power, financial services, transport and engineering.
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Banking and financial services PSUs
Public sector banks and financial institutions form one of the largest PSU segments in India. These institutions provide credit support to businesses and infrastructure projects while also driving financial inclusion.
Companies in this sector include:
State Bank of India
Bank of Baroda
Punjab National Bank
Canara Bank
Union Bank of India
Indian Bank
Bank of India
Bank of Maharashtra
Indian Overseas Bank
Central Bank of India
UCO Bank
Punjab & Sind Bank
IDBI Bank
Power Finance Corporation
REC Ltd
IRFC (Indian Railway Finance Corporation)
GIC of India
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The New India Assurance Company
HUDCO
IREDA
Oil, gas and energy PSUs
Energy PSUs are among the largest government-controlled companies by revenue and market capitalisation. They play a key role in oil exploration, refining, fuel distribution and gas transmission.
Companies in this sector include:
Oil and Natural Gas Corporation (ONGC)
Indian Oil Corporation (IOCL)
Bharat Petroleum Corporation (BPCL)
Hindustan Petroleum Corporation (HPCL)
Oil India
GAIL India
Chennai Petroleum Corporation
Power generation and utilities
Several PSU companies operate in power generation, transmission and hydroelectric projects.
Companies in this sector include:
NTPC
Power Grid Corporation of India
NHPC
NLC India
SJVN
Mining and metals
Government-owned mining and metals companies supply key raw materials such as coal, aluminium and copper for India’s industrial sector.
Companies in this sector include:
Coal India
NMDC
NALCO (National Aluminium Company)
Hindustan Copper
Steel Authority of India (SAIL)
KIOCL
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Defence and shipbuilding PSUs
India’s defence manufacturing sector also includes several government-controlled companies involved in aerospace, naval shipbuilding and military equipment production.
Companies in this sector include:
Hindustan Aeronautics Ltd (HAL)
Bharat Electronics Ltd (BEL)
Bharat Dynamics Ltd (BDL)
Mazagon Dock Shipbuilders
Garden Reach Shipbuilders & Engineers
Cochin Shipyard
Infrastructure, Railways and engineering
These PSUs are involved in infrastructure development, rail transport services and engineering projects across the country.
Companies in this sector include:
Bharat Heavy Electricals Ltd (BHEL)
Rail Vikas Nigam Ltd (RVNL)
IRCTC
Container Corporation of India (CONCOR)
NBCC India
ITI Ltd
Together, these PSU companies represent a wide spectrum of India's strategic sectors, ranging from banking and energy to defence manufacturing and infrastructure development.
