Synopsis : HFCL surged after securing a major BharatNet Phase-III contract, while Vedanta Aluminium gained on a bullish brokerage initiation. Redington, Man Industries and Tata Motors Passenger Vehicles also remained in focus amid company-specific developments.
Indian equity benchmarks traded slightly lower during midday trade on June 18, with profit booking in select heavyweight stocks weighing on sentiment. However, several individual stocks witnessed sharp moves driven by order wins, brokerage actions, expansion plans and business updates.
The Nifty 50 hovered near the 24,055 mark, while the Sensex traded around 77,020. Despite the subdued broader market, stock-specific activity remained strong across telecom, metals, automobiles, manufacturing and technology sectors.
HFCL rallies on ₹2,666 crore BharatNet win
Shares of HFCL gained nearly 4.6% after the company secured a ₹2,666.09 crore BharatNet Phase-III contract from Rail Vikas Nigam Limited for the Uttar Pradesh (West) telecom circle.
The project comprises capital expenditure of approximately ₹1,192.82 crore and operational expenditure of around ₹1,473.27 crore. The scope includes telecom equipment supply, optical fibre network deployment, commissioning and maintenance support over a ten-year period.
The latest order follows HFCL's earlier BharatNet Phase-III contract worth ₹2,167.65 crore awarded in January 2025, further strengthening its position in India's digital connectivity infrastructure segment.
Vedanta Aluminium gains after Citi initiation
Shares of Vedanta Aluminium Metal advanced nearly 3% after global brokerage Citi initiated coverage on the newly listed company.
The brokerage highlighted favourable aluminium industry fundamentals, long-term growth opportunities and improving balance-sheet metrics as key positives.
Investor interest remains strong as market participants assess the standalone earnings potential of the demerged aluminium business, which is expected to benefit from growing demand linked to infrastructure, renewable energy and electric vehicles.
Tata Motors Passenger Vehicles edges higher
Shares of Tata Motors Passenger Vehicles traded marginally higher after the company outlined its FY27 outlook.
Management guided for revenue of approximately £26 billion in FY27 compared with £23 billion in FY26. EBIT margins are expected to improve to around 4%, while investments are projected to increase slightly to £3.7 billion.
The update also included plans by Jaguar Land Rover to accelerate growth through product expansion, particularly in the Range Rover and Defender portfolios, alongside a stronger focus on North America.
Man Industries jumps on fresh orders
Shares of Man Industries (India) climbed more than 5% after announcing new orders worth approximately ₹1,000 crore.
The contracts were secured by both Man Industries and its Saudi Arabian subsidiary, National Pipe Co. Ltd. The company stated that the orders are expected to be executed within six to nine months.
Following the latest wins, the group's consolidated unexecuted order book has risen to roughly ₹4,100 crore. Management also indicated revenue potential of up to ₹8,500 crore with EBITDA margins in the 15-17% range.
Redington rises on Apple pricing reports
Shares of Redington Limited surged over 6% during intraday trade before trimming some gains.
The rally followed reports suggesting that Apple may increase product prices due to rising memory chip costs. As one of Apple's key distribution partners across several markets, Redington benefited from the positive sentiment surrounding the technology giant's ecosystem.
Strong recent performance across India, the Middle East and Africa, along with growth in cloud, cybersecurity and enterprise solutions, also supported investor optimism.
Hexaware slips despite expansion plans
Shares of Hexaware Technologies declined about 1.5% despite announcing a £25 million investment to expand operations in the United Kingdom.
The company plans to strengthen its Birmingham delivery centre and establish research and development facilities in Manchester and Leeds. The initiative is expected to create approximately 1,200 jobs over the next three to five years.
The investment will focus on emerging technologies including artificial intelligence, digital services and quantum computing. However, some investors appeared to book profits following recent gains in the stock.
Conclusion
While benchmark indices remained under pressure, stock-specific developments continued to drive market action. HFCL emerged as the standout performer following its major BharatNet order win, while Vedanta Aluminium benefited from positive brokerage coverage. Redington, Man Industries and Tata Motors Passenger Vehicles also attracted investor attention, highlighting the continued importance of company-specific catalysts in the current market environment.
Disclaimer: The information presented above is for informational and educational purposes only and should not be construed as investment advice. Investors should conduct their own research and consult a SEBI-registered financial advisor before making any investment decisions.
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