The share price of HFCL Ltd. shared gains on Saturday after the government announced a centre of excellence in artificial intelligence for education, which will be set up with a total outlay of Rs 500 crore during the Union Budget 2025–26, led by Finance Minister Nirmala Sitharaman.
While shares of Sterlite Technologies Ltd., BEML Ltd., and Bharat Electronics Ltd. posted losses.
The finance minister said, I had announced three Centres of Excellence in Artificial Intelligence for agriculture, health, and sustainable cities in 2023. Now a Centre of Excellence in Artificial Intelligence for education will be set up with a total outlay of 500 crore," in her speech for the budget.
Most stocks of the AI-enabled hardware companies advanced and declined post the reveal, other than HFCL.
Most stocks of the AI-enabled hardware companies declined post the reveal, with HFCL being the exception.
HFCL Ltd. surged 8.54% to the day's high of Rs 106.40 apiece. It was trading 7.74% higher at Rs 105.62 apiece as of 2:20 p.m.
Shares of Bharat Electronics, on the other hand, fell 7.98% to the day's low of Rs 269.30 apiece. It was trading 3.64% lower at Rs 282.00 apiece as of 2:22 p.m.
Shares of BEML followed suit, falling 5.52% to the day's low of Rs 3,632.55 apiece.It was trading 3.76% lower at Rs 3,700 apiece as of 2:25 p.m.
The share price of Sterlite Technologies fell to the day's low of 2.63% to 105.80 apiece. It was trading 1.70% lower at Rs 106.81 apiece as of 2:28 p.m.
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