Six Stocks In News At Noon: Vodafone Idea, HAL, BSE, And More

Indian benchmark equity indices were trading lower around midday on Tuesday, as volatility surged ahead of Trump reciprocal tariff on April 2.

The Sensex was down 1.65% and Nifty 50 was 1.45% lower as of 12:04 p.m.

Several stocks made headlines due to significant developments and market reactions. From government stake acquisition to major contract wins and order cancellations, here's a look at the key updates driving the movements of Vodafone Idea Ltd., Hindustan Aeronautics Ltd., BSE Ltd., Indian Renewable Energy Development Agency Ltd., ITC Ltd., and Suzlon Energy Ltd.

Vodafone Idea shares hit the upper circuit on Tuesday, after the government announced it would acquire more stake in the debt-laden telecom operator in lieu of spectrum auction dues. The stock surged by 10% to Rs 7.48 apiece, its highest level since March 24.

Hindustan Aeronautics' share price jumped over 6% during early trading on Tuesday, following the announcement of a deal to supply combat helicopters. The government signed contracts worth Rs 62,700 crore with HAL last week, for 156 light combat helicopters Prachand for the armed forces.

BSE's share price rose to a one-month high during early trade on Tuesday after the board approved issuing two bonus shares for every share held by investors. This marks BSE’s second bonus share issue in three years, following a similar issuance in February 2022.

Indian Renewable Energy Development Agency Ltd. shares were trading higher during early trading on Tuesday after the company released its annual business update. Loan disbursements for the financial year ending March 31, 2025, rose 20% to Rs 30,168 crore, while loans sanctioned increased by 27% year-on-year to Rs 47,453 crore.

Shares of ITC rose by 1.13% to Rs 414.40 apiece. JPMorgan maintained its 'overweight' rating on ITC Ltd. but cut its target price to Rs 475 from Rs 505, citing margin headwinds and lower earnings forecasts. The brokerage revised its FY25-27 EPS downward by 4-6% due to reductions in EBIT across its cigarettes, other FMCG, and paper segments.

Shares of Suzlon Energy Ltd. declined on Tuesday after the company notified exchanges about order cancellations totaling 300 MW. The cancellations included a 99 MW order from Vibrant Energy and a 100 MW order from a leading global utility firm, both of which decided not to proceed with their respective projects.