On Wednesday’s intraday trade, Central Public Sector Enterprises (CPSEs) shares sustained their northward movement with the S&P BSE CPSE index, recording a 52-week high at 1,851.90 on the BSE amid a sharp rally in index stocks.

The CPSE index recorded close to Rs 1,852.79 on November 7, 2017. In March, the CPSE index outperformed by surging 7% compared to a 3.4% rise in the S&P BSE Sensex.

The S&P BSE CPSE Index measures the CPSE’s performance listed on the BSE. CPSEs demand 51% or more of the direct holding belongs to the Central Government of India.

Rail Vikas Nigam Limited (RVNL), Engineers India, Bharat Heavy Electricals (BHEL), NLC India and Indian Railway Finance Corporation (IRFC) from the index rose between 6% and 10% on the BSE in intra-day trade. In comparison, the Sensex fell 0.38% at 11:18 AM.

RVNL, Bharat Dynamics, Hindustan Aeronautics (HAL) and Ircon International recorded all-time highs on the BSE.

Among the individual stocks, RVNL hit a new high of Rs 130.20 after it rallied 10% in intra-day trade. Since March, the stock price has doubled 126% from a level of Rs 57.50 on the expectation of a healthy outlook amid solid order books and new order inflows.

HAL achieved a new landmark with the company’s market capitalisation (m-cap) surpassing the Rs 1 trillion mark as the stock recorded a new high of Rs 3,021 (up 3%) on the BSE in Wednesday’s intraday trade.

HAL is a defence public sector undertaking (DPSU) engaged in designing, manufacturing, developing, maintaining, repairing, overhauling, and servicing aircraft, helicopters, engines, avionics, instruments, and accessories.

It also engages with ISRO to contribute to the country’s space programmes. The GoI remains HAL’s largest shareholder, with a current shareholding of around 75%.

The company’s order book stood around Rs 82,000 crore at the end of March 2023 after supplies liquidation during FY23. New contracts of Rs 26,000 crore were received during the year, including manufacturing contracts for 70 HTT -40, 6 Do-228 Aircraft and PSLV launch vehicles. Additionally, fresh orders of Rs 16,600 crore were received on the ROH front during the year.

BDL shares a record high of Rs 1,047.50, up 5% on the BSE in intraday trade. The defence company’s stock exceeded its previous high of Rs 1,029.60 on April 12, 2023.