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Asia

Indian Equities End Marginally Higher on Thursday Ahead of Central Bank's Policy Decision

Indian benchmark indices finished marginally higher on Thursday after another range-bound session, as investors remained cautious ahead of the central bank's monetary policy announcement.The BSE Sensex rose 13.84 points, or 0.02%, to close at 74,360.01, while the NSE Nifty 50 gained 10.95 points, or 0.1%, to settle at 23,416.55.Trading remained subdued as market participants avoided aggressive positions ahead of the Reserve Bank of India's policy outcome. Weak global cues and elevated crude oil prices also kept sentiment in check.In corporate developments, HFCL (NSE:HFCL, BOM:500183) approved a series of transactions to consolidate its defense and aerospace operations under HFCL Advance Systems. The company plans to invest 892.5 million rupees in the newly formed unit as part of a broader 1.75 billion-rupee funding round and will retain a majority stake upon completion.AstraZeneca Pharma India (NSE:ASTRAZEN, BOM:506820) said its board approved the surrender of its factory license for cancellation, following previously announced plans to exit its manufacturing facility and relinquish its manufacturing license.

^BSENifty 50BOM:500183BOM:506820NSE:ASTRAZENNSE:HFCL
Asia

HFCL Approves Multi-Transaction Plan to Scale Defense, Aerospace Business

HFCL (NSE:HFCL, BOM:500183) approved a series of transactions to consolidate and expand its defense and aerospace business under HFCL Advance Systems or HASPL, a newly formed unit, according to a Wednesday filing to the Indian stock exchanges.The Indian telecom equipment maker will invest 892.5 million rupees in HASPL as part of a broader 1.75 billion-rupee funding round involving several investors. Upon completion, HFCL will hold a 51.02% stake in HASPL.The company also approved the sale of up to 80% of Raddef to HASPL for 750 million rupees and the transfer of its thermal weapon sight business to HASPL for 500 million rupees.Separately, HASPL approved the acquisition of HFCL Defence Systems from Defsys Solutions for 250 million rupees and will invest another 250 million rupees to acquire Defsys's aerostructure business.HFCL said the transactions will create an integrated defense platform spanning aerostructures, radar and surveillance systems, and thermal weapon sights, while providing access to an export order book of about 18.9 billion rupees.

BOM:500183NSE:HFCL
Asia

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.

^BSENifty 50BOM:500183BOM:541154NSE:HALNSE:HFCL
Asia

HFCL Plans New Manufacturing Unit in Andhra Pradesh, India; Shares Down 4%

HFCL (NSE:HFCL, BOM:500183) has received board approval to establish a defense manufacturing facility in Andhra Pradesh, India with an initial outlay of 2.30 billion Indian rupees, according to a Thursday filing to the Indian stock exchages.The proposed facility be used to design, develop and manufacture multi-mode hand grenades and similar other products and advanced defense systems.The facility is expected to be completed by December 2027 and it is estimated to add capacity of 4 million units.The company's shares were down over 4% in recent trade.

BOM:500183NSE:HFCL
Asia

Indian Equities Gain on Monday on Election Trends, Earnings Support

Indian benchmark indices ended higher on Monday, supported by buying in heavyweight stocks, improving earnings outlook, and optimism around election trends.The BSE Sensex rose 355.90 points, or 0.5%, to close at 77,269.40, while the NSE Nifty 50 gained 121.75 points, or also 0.5%, to settle at 24,119.30.Sentiment improved as investors tracked early trends from Assembly Elections across key states of India. Expectations of political stability in the country and continuity in economic policies supported the market.Hopes of progress in U.S.-Iran peace talks also contributed to the positive tone of the markets. Iran has reportedly submitted a 14-point proposal to Pakistan to end the conflict with U.S. on all fronts.Among stocks, Bharat Heavy Electricals (NSE:BHEL, BOM:500103) surged 7% after reporting a sharp rise in consolidated profit to 12.9 billion rupees in Q4 from 5.04 billion rupees a year earlier, according to a Monday filing. Revenue from operations increased to 123.1 billion rupees from 89.9 billion rupees.HFCL (NSE:HFCL, BOM:500183) gained nearly 9% after the company and its subsidiary secured orders worth 842.3 million rupees for supply of optical fiber cables, according to a filing.Bajaj Auto (NSE:BAJAJ-AUTO, BOM:532977) rose over 1% after total vehicle sales jumped 40% year-on-year in April to 513,792 units, according to a Monday filing.

^BSENifty 50BOM:500103BOM:500183BOM:532977NSE:BAJAJ-AUTONSE:BHELNSE:HFCL
Asia

HFCL Bags INR842 Million Orders for Optical Fiber Cables; Shares Jump 8%

HFCL (NSE:HFCL, BOM:500183) and subsidiary HTL secured purchase orders worth 842.3 million Indian rupees from an unnamed private telco, according to a Monday filing to the Indian stock exchanges.The contract is for the supply of optical fiber cables by August.Shares of the telecom equipment manufacturer were up nearly 8% in recent trade.

BOM:500183NSE:HFCL