PSU stocks gain; ITI, Bharat Dynamics, Hindustan Aeronautics hit 52-wk high

Hindustan Copper, BHEL, Cochin Shipyard and STC India from the S&P BSE PSU index were up in the range of 4 per cent to 8 per cent on the BSE today

Shares of public sector undertaking (PSU) companies, especially from the defence and telecom sectors, zoomed up to 20 per cent in the intra-day trade on the BSE on Monday on expectation of getting orders from the government.

Individually, Bharat Dynamics (up 9 per cent to Rs 411) and Hindustan Aeronautics (up 7 per cent at Rs 912) hit their respective 52-week highs on the BSE today. In the past three trading days, Bharat Dynamics has rallied 30 per cent, while Hindustan Aeronautics (HAL) has soared 20 per cent after the Ministry of Defence (MoD) approved the purchase of weapons and equipments