Market Update: Big Moves by BSE, HAL, Asian Paints, Tata Steel, and Tata Power
Market Update Big Moves by BSE, HAL, Asian Paints, Tata Steel, and Tata Power
India’s market is buzzing with new updates as top companies like BSE, HAL, Asian Paints, Tata Steel, and Tata Power post their latest earnings. From defence deals to steel rebounds and renewable expansions, these five giants are driving the conversation today, November 12.
Key Takeaways
- BSE reports a 61% jump in profit to ₹558 crore, revenue up 44%.
- HAL signs a ₹4,000+ crore engine deal with GE Aerospace.
- Asian Paints hits a 52-week high on crude relief and rival exit.
- Tata Steel expects profit rebound with higher volumes and lower coal costs.
- Tata Power focuses on green growth despite a small profit dip.
BSE: Quiet Performer With Strong Numbers
BSE, India’s oldest stock exchange, delivered strong results this quarter. Net profit rose 61% to ₹558 crore, while revenue increased 44% to ₹1,068 crore, driven mainly by strong derivative trading volumes even as the cash segment slowed.
The company remains debt-free and continues to lead the market. Recent regulatory clarity reduced fears about F&O curbs, improving sentiment. Brokerages are positive, with Jefferies giving a “Buy” rating and a target of ₹2,930. The stock recently closed around ₹2,644, with many expecting it to move past ₹3,000 soon.
HAL: Defence Giant Gears Up for Big Growth
Hindustan Aeronautics Limited (HAL) is making headlines with a major ₹4,000+ crore deal with GE Aerospace to supply 113 engines for Tejas fighter jets. Deliveries begin in 2027, a key boost for India’s self-reliance in defence.
HAL’s order book stands at ₹1.89 lakh crore, showing strong demand ahead. Analysts see long-term potential, setting targets above ₹5,800, while some expect ₹6,000 in the coming months. The stock trades near ₹4,800, keeping defence stocks in focus amid policy reforms.
Asian Paints: Riding the Wave of Market Confidence
Asian Paints has climbed early 6% to ₹2,663, marking a fresh 52-week high. The rally came after a rival CEO’s exit eased competition concerns, while falling crude oil prices lowered input costs.
MSCI inflows worth $95 million and festive season demand further strengthened the outlook. Nomura upgraded the stock to “Buy” with a ₹3,100 target, and Jefferies expects nearly 28% upside. The company continues to show steady growth and strong market dominance.
Tata Steel: Signs of a Turnaround
Tata Steel gained 3%, touching a new high above ₹181. For Q2, the company expects revenue between ₹53,000–55,800 crore with EBITDA up 38–67%, driven by lower coal costs and improved volumes.
Brokerages forecast a clear profit rebound after past quarters of losses. Global expansion plans aim to raise capacity to 100 million tonnes by 2030, and analysts see a target near ₹210. The steel sector may face pressure from cheap imports, but domestic recovery remains steady.
Tata Power: Green Growth Continues
Tata Power posted a PAT of ₹919 crore, down just 0.7%, and revenue of ₹15,544 crore, down 1%, mainly due to the Mundra plant shutdown. However, renewable operations continue to expand strongly.
The company plans a ₹1,572 crore hydro project in Bhutan and a 10 GW solar wafer unit, taking its total capacity to 26.3 GW, with 66% expected to be green. Brokerages like CLSA maintain a “Hold” at ₹369, while long-term investors see value in its net-zero by 2045 goal. The stock trades near ₹395.
Quick Comparison Table
| Stock | Q2 Profit Change | Revenue Change | Key Highlight | Broker Target |
|---|---|---|---|---|
| BSE | +61% (₹558 cr) | +44% | Derivative volumes surge | ₹2,930 (Buy) |
| HAL | Due today | Due today | ₹4,000 cr engine deal | ₹5,800+ |
| Asian Paints | Due today | Due today | Rival exit + crude cost relief | ₹3,100 (Buy) |
| Tata Steel | Due today | Slight + | Lower costs, higher volumes | ₹210+ |
| Tata Power | -0.7% (₹919 cr) | -1% | Strong renewable momentum | ₹369 (Hold) |
Market Outlook
The overall market sentiment is bullish on defence and exchanges, with cautious optimism in paints, steel, and power. With festive demand, FII inflows, and better margins, analysts expect continued strength.
For investors, defence and renewable sectors remain promising, while global trends could affect steel and paint performance. Keep an eye on regulatory updates and earnings revisions as Q2 results roll out fully.
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