BOM:541154

Jefferies Adjusts Hindustan Aeronautics' Price Target to INR6,300 from INR6,220, Keeps at Buy

Indian Equities Rebound on Thursday as Pharma, Metal Stocks Drive Rally

Indian benchmark indices closed sharply higher on Thursday, led by strong buying in pharma and metal shares, while a recovery in financial stocks further supported sentiment.The BSE Sensex rose 789.74 points, or 1.1%, to close at 75,398.72, while the NSE Nifty 50 gained 277.00 points, or 1.2%, to settle at 23,689.60.Markets recovered after recent losses as investors reacted positively to encouraging signals from the Trump-Xi summit, which raised hopes of stronger economic cooperation. However, sentiment remained cautious as tensions in West Asia persisted.In macroeconomic news, India's wholesale price inflation accelerated to 8.3% in April from 3.88% in March, driven by higher prices of fuel, metals, and manufactured products, according to government data released on Thursday.In corporate developments, Hindustan Aeronautics (NSE:HAL, BOM:541154) booked an increase in consolidated profit in fiscal Q4 to 42.0 billion rupees from 39.8 billion rupees a year earlier, according to a Thursday filing. Revenue from operations increased to 139.4 billion rupees from 137.0 billion rupees.Meanwhile, HFCL (NSE:HFCL, BOM:500183) received board approval to set up a defense manufacturing facility in Andhra Pradesh, India, with an initial investment of 2.30 billion rupees.

Hindustan Aeronautics Posts Higher Consolidated Profit in Fiscal Q4

Hindustan Aeronautics (NSE:HAL, BOM:541154) reported an increase in its consolidated attributable profit to 42.0 billion Indian rupees in the fiscal fourth quarter ended March 31, against 39.8 billion rupees a year ago.Earnings per share climbed to 62.74 rupees compared with the year-ago figure of 59.46 rupees, according to a Thursday filing to the Indian stock exchanges.Revenue from operations in fiscal Q4 increased to 139.4 billion rupees from 137.0 billion rupees a year earlier.The company's shares were up over 2% in recent trade.

Takyon Networks Bags Work Order Worth INR8 Million from Hindustan Aeronautics

Takyon Networks (BOM:544471) has received a work order worth 8.3 million Indian rupees from Hindustan Aeronautics (NSE:HAL, BOM:541154), according to a BSE filing on Tuesday.The contract is for the supply and installation of Takyon's newly launched active network components by July 31.The company's shares were up nearly 1% in recent trade.