PSU stocks crash up to 47% from peak. Is the reign of rail & defence over?

PSU stocks have seen significant declines, with some dropping over 40% from their 52-week highs due to expensive valuations and government share sales. Stocks like Cochin Shipyard, Mangalore Refinery, and HUDCO have been notably affected. Despite short-term turbulence, long-term prospects for rail and defence sectors remain positive.