Stock market today: Bharat Electronics wins ₹1,092 crore defence orders

Bharat Electronics lands ₹1,092 crore defence deals as stock market buzzes with big moves

Bharat Electronics Ltd has secured a significant boost with additional defence orders worth ₹1,092 crore. Meanwhile, PTC India Financial Services has been left surprised by the sudden resignation of three independent directors. Ennore Coal Terminal Pvt Ltd faces a show-cause notice from GST authorities, alleging tax contraventions of ₹96.58 crore.

In a major win for the defence sector, Bharat Electronics Ltd has secured additional orders worth ₹1,092 crore. This comes as a significant boost for the company and the stock market today.

PTC India Financial Services has expressed surprise at the sudden resignation of three independent directors. The company has not provided further details on the matter, leaving stakeholders curious about the reasons behind this unexpected move.

Ennore Coal Terminal Pvt Ltd has received a show-cause notice from GST authorities, alleging tax contraventions worth ₹96.58 crore. The company is yet to respond to these allegations.

In the corporate world, BNP Paribas has acquired nearly 1% stake in Hero MotoCorp for ₹1,035 crore through an open market transaction. This move signals a vote of confidence in the two-wheeler manufacturer from a global financial institution.

Avenue Supermarts Ltd has raised ₹100 crore in short-term debt through commercial paper. The company has issued these papers with a coupon rate of 6% and a maturity of 91 days, indicating its strong financial position.

IRFC has signed loan agreements worth ₹16,489 crore to finance upcoming supercritical thermal power projects in Haryana and Maharashtra. This move underscores the government's commitment to infrastructure development in the stock market.

Mahindra & Mahindra has entered into a Share Purchase Agreement to sell its entire stake in Sampo Rosenlew Oy for €5 million (₹52 crore). This sale is part of the company's ongoing strategic review of its portfolio.

SEBI has barred Man Industries and three top executives from accessing securities markets for two years. This decision follows allegations of fund diversion, highlighting the regulator's commitment to maintaining market integrity.

Various institutional investors, including mutual funds and foreign institutional investors, have acquired shares of Hero MotoCorp and Mahindra & Mahindra at different times. However, specific institutions and exact timeframes are not publicly detailed in a single comprehensive source.

Motilal Oswal Mutual Fund has bought shares of Bharat Forge worth nearly ₹378 crore via an open market deal. This acquisition indicates the fund's confidence in the company's future prospects.

In a legal development, NCLAT has dismissed an appeal by Future Consumer Ltd seeking insolvency proceedings against Aussee Oats Ltd. This decision brings closure to a long-standing dispute between the two companies.

These developments highlight the dynamic nature of the Indian corporate landscape, with significant deals, regulatory actions, and legal outcomes shaping the business environment. As these stories unfold, they underscore the complexity and breadth of India's economic growth.