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Stocks in Focus: Bharat Electronics, Vodafone Idea, Hindustan Aeronautics and Others

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The GIFTY Nifty futures were trading in the red during the early hours before the opening of the markets on Monday. Domestic Indices are expected to open on a similar negative note.

Domestic equity indices ended higher on Friday, with the S&P BSE Sensex extending its winning streak for the eleventh straight session, whereas the NSE Nifty 50 touched an all-time high of 20,222.45 points on September 15. At closing, the Sensex was up 0.47% or nearly 320 points at 67,838.63, while the Nifty stood at 20,192.35, advancing close to 90 points or 0.44%.

Here are some of the top stocks in the news on September 18.

Hindustan Aeronautics (HAL): Defence Minister Rajnath Singh-chaired Defence Acquisition Council (DAC) has cleared the Rs 11,000 crore procurement proposal of 12 Su-30 MKI Aircraft for the Indian Air Force (IAF), along with associated equipment and ground systems, from Hindustan Aeronautics.

Dhanlaxmi Bank: The bank’s independent director, Sridhar Kalyanasundaram, has resigned from the board, citing multiple issues and instances, including unethical conduct of business, “belligerent attitude of the MD & CEO” on various matters, lack of the board’s support, issues related to capital enhancement plans, factionalism in board and other issues. 

Bharat Electronics (BEL): The company received an order worth Rs 2,118.57 crore from Cochin Shipyard to supply various equipment for the Indian Navy. BEL has also received additional orders worth Rs 886 crore related to the Upgrade of Akash Missiles with other equipment, accessories and spares. 

Larsen & Toubro (L&T): L&T Realty, the real estate arm of the engineering and construction conglomerate, has sold out all the homes in the first phase of its maiden residential project in Chennai, Avinya Enclave. Meanwhile, the company’s Rs 10,000-crore buyback programme at Rs 3,200 per share opens today. 

Tata Steel: The United Kingdom and Tata Steel announced a joint investment package, the largest in the UK steel industry in decades, worth £1.25 billion last week, including a government grant of £500 million, to transform Tata Steel’s coal-powered steel plant at Port Talbot in Wales into a lower-emission electric arc furnace (EAF). 

Vodafone Idea: The telecom company paid Rs 1,701 crore to the Department of Telecommunications (DoT) as the second annual instalment for the 5G spectrum acquired in the 2022 auction.

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