After opening day on a negative note, Indian benchmark indices set aside global market jitters and staged a recovery on Tuesday.

Benchmark Indian equity indices BSE Sensex and NSE Nifty50 ended flat in Tuesday's session.

At the closing bell, the BSE Sensex  closed Lower by 13 points (down 0.1%)

Meanwhile, the NSE Nifty closed 38 points Higher (Up 0.2%)

Sun Pharma, BPCL Trent among the top gainers today

Zomato, Adani ports, and  M&M, on the other hand, were among the top losers today.

The GIFT Nifty was trading at  22,578, higher by 83 points at the time of writing.

The BSE MidCap index ended 0.7 % Higher, and the BSE SmallCap index ended 0.7% lower.

Sectoral indices were trading mixed, with stocks in IT and banking witnessing selling pressure. Meanwhile, stocks in the oil & gas and telecom sectors are witnessing buying.

The rupee is trading at Rs 87.2 against the US$.

Gold prices for the latest contract on MCX are trading 0.6% Higher at Rs 85,930 per 10 grams.

Meanwhile, silver prices were trading 1.1% Higher at Rs 97,481 per 1 kg.
 

BEL Shares Up on New Orders

In the news from the defence sector, Bharat Electronics Limited (BEL) shares saw a significant surge in demand, despite the weak market conditions. The stock rose by 2.3% to reach an intraday high of Rs 278.6 per share on the BSE.

This uptrend in BEL's share price can be attributed to the company's recent announcement of securing orders worth Rs. 8.4 billion (bn).

BEL has secured additional orders worth Rs 8.4 bn since its last disclosure on 6 March 2025. These orders include major contracts for RF seekers, vessel and air traffic management systems, electro-optic repair facilities, radar upgradation, spares, and services.

This development has pushed BEL's total accumulated orders for the current financial year to Rs 145.7 bn.

BEL shares have seen a significant surge in value over the past few trading sessions. The stock has popped over 3.5% in the last five trading sessions and has gained over 4% in the last month.

The market capitalization of BEL is indeed around Rs 202 bn, as reported by the BSE.

This uptrend in BEL's share price can be attributed to the company's strong position in the defence sector. As a Navratna Defence Public Sector Undertaking, BEL has established itself as a leading player in the Indian defence industry.

HEG, Graphite India Stocks Rise Sharply

Moving on to the news from capital goods sector, Shares of graphite electrodes (GE) manufacturers, including HEG and Graphite India, witnessed a significant surge in their stock prices on Tuesday, with gains reaching as high as 9% on the BSE during intraday trading.

Bharat Electronics Limited (BEL) has a significant connection with HEG, as the latter holds a substantial 49% stake in BEL's paid-up share capital on a fully diluted basis, effectively making BEL an associate company of HEG.

Moreover, HEG has a notable presence in India's renewable energy sector through its subsidiary, BEL, which is driving innovation and growth across various segments, including clean energy solutions, energy storage systems, and battery pack solutions for electric vehicles, thereby contributing to India's transition towards a more sustainable and environmentally friendly energy mix.

In a significant development, the existing structure of Bharat Energy Limited (BEL) will undergo a transformation, as the company is set to merge with its parent entity, HEG Limited. Prior to the merger, the ownership structure of BEL comprised 51% held by the promoters and promoter-held companies, while HEG Limited held the remaining 49% stake.

Graphite India's share price witnessed a significant 7% surge, this upward momentum was fuelled by a substantial two-fold increase in average trading volumes. The company's financial performance remains heavily reliant on its graphite and carbon segment, which continues to be the primary source of revenue and profit, accounting for a substantial 90% of the total operating revenues.
 

Hexaware Tech Plunges After Q3 Results

Moving on to the news from IT sector, Hexaware Technologies' shares took a hit on Friday, tumbling over 7% to an intraday low of Rs 759.1. This downturn came after the company announced its December quarter results, which was its first quarterly report since listing on the bourses.

Hexaware Technologies made a strong debut on the stock market, listing on February 19, 2025. On its first day of trading, the company's shares surged 8% above their issue price of Rs 708, closing at Rs 764. Since then, the stock has continued to gain momentum, with its share price rising by 13.43% from the issue price.

Hexaware Technologies reported a significant increase in its quarterly profit. For the October-December 2024 quarter, the company's profit stood at Rs 32 bn, marking a substantial 66.3% year-over-year (YoY) growth from Rs 19.3 bn in the same quarter of the previous year. Additionally, the company's profit also rose 7% sequentially from Rs 29.9 bn in the preceding quarter.

Hexaware Technologies reported impressive revenue growth in constant currency terms, with an 18.8% annual increase and a 0.2% sequential rise. Additionally, the company's earnings before interest, tax, depreciation, and Ebitda margin expanded by 30 basis points to 16.3% compared to the previous quarter, indicating improved operational efficiency.

Despite the decline in its share price, Hexaware Technologies' quarterly performance demonstrates the company's ability to drive growth and improve operational efficiency.

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