Mumbai: Shares of public sector units (PSUs) with more than 90 percent government stake gained between 10 and 20 percent last week, after the cabinet decided to raise public shareholdings in the companies to at least 10 percent. Last week, the Cabinet Committee on Economic Affairs approved a mandatory minimum 10 percent public ownership in all listed and profit making PSUs. The Committee also approved listing of all the unlisted but profitable PSUs. "This is a very positive move as it will bring more accountability and more transparency to the government enterprises," said Gopal Agrawal, Head of Equity at Mirae Asset Management Company. All the PSU stocks registered gains after the stock market opened on Friday, but the gains were the most in those listed PSU with less than 10 percent public shareholding, reports Business Line. The stock of public sector international trading company MMTC gained 20 percent to close at 36,146.85 on the Bombay Stock Exchange (BSE). Public holding in MMTC is less than one percent, with the government holding a 99.33 percent stake in the company. PSUs with more than 90 percent government holding gained heavily last week. Some of them were HMT, Hindustan Copper, NMDC, State Trading Corporation of India, Rashtriya Chemicals and Fertilizers and Engineers India. The BSE PSU index closed with a gain of 3.91 percent on Friday, while the Sensex rose only 0.59 percent. Timing of the issues by the public sector companies would be vital to their success, said market experts. National Hydroelectric Power Corporation's 6,000 crore Initial Public Offering (IPO) had a subdued listing and its shares are trading below the issue price of 36. However the stock bounced back on Friday and closed with a gain of six percent on the BSE at 32.65. According to market watchers, the unlisted and profit-making PSUs that are strong candidates for listing include Nuclear Power Corporation, Coal India, Bharat Sanchar Nigam (BSNL), Rashtriya Ispat Nigam, North Eastern Electric Corporation and Satluj Jal Vidyut Nigam.