HDFC Defence Fund, the only actively managed mutual fund based on the defence sector, increased stake in Hindustan Aeronautics (HAL), Eicher Motors, and four other stocks in March, according to the data by ACE MF.

The defence fund added 50,000 shares of HAL to the portfolio, taking the total shares to 25.50 lakh in March compared to 25 lakh in the previous month. Around 45,000 shares of Eicher Motors were added to the portfolio and the fund had 4.95 lakh shares of Eicher Motors in its portfolio.

Also Read | Mutual fund cash levels drop 12% to Rs 1.86 lakh crore, hit 16-month low in March amid aggressive equity buying

The fund added 10.51 lakh shares of Aequs in its portfolio in March and had nearly 17.68 lakh shares of this stock in its portfolio in March. This was followed by addition of 2.70 lakh shares of Bharat Electronics, around 22,672 shares of Solar Industries and 7,151 shares of Bosch.

Sedemac Mechatronics was added in the portfolio as the new entrant in March. The fund added 3.97 lakh shares of this stock in its portfolio worth Rs 60.15 crore market value.

A complete exit was made from Avalon Technologies in March by selling 1.33 lakh shares from the portfolio worth market value of Rs 13.64 crore. The fund did not reduce its stake in any stock in the said period.
The exposure in 15 stocks remained unchanged, which include Astra Microwave Products, Diffusion Engineers, Cyient DLM, Bharat Dynamics, Mazagon Dock Shipbuilders, Data Patterns (India), Rishabh Instruments, Ideaforge Technology, Power Mech Projects, JNK India, BEML, Bharat Forge, Centum Electronics, MTAR Technologies, and Premier Explosives.
In March, the fund had 22 stocks in its portfolio, the same as the total stock count in the previous month. The portfolio of this fund is spread across seven sectors – Capital Goods (52.68%), Automobiles and Ancillaries (21.69%), Chemicals (12.94%), Electricals (4.73%), Ship Building (2.53%), Telecom (0.82%) and Infrastructure (0.72%).
Since its inception, the fund has delivered a CAGR of 37.42%. In the last one year, the fund posted a gain of 31.53% and in the last three months, it delivered 4.37% returns.

Based on allocation to NAV, the fund had the highest allocation in Bharat Electronics where the allocation was 18.70%, followed by Bharat Forge where the allocation was 15.27%. In HAL and Solar Industries, the allocation was 12.18% and 10.54% respectively in March.

The fund holds 50.38% in largecaps, 19.77% in midcaps, 25.14% in smallcaps, and 4.71% in others.

Also Read | Small, mid and largecap mutual funds see sharp inflow surge in March. Is investor confidence rising?

Launched on June 2, 2023, the performance is benchmarked against Nifty India Defence – TRI and is managed by Rahul Baijal and Priya Ranjan.

HDFC Defence Fund is an open-ended equity scheme investing in Defence & allied sector companies. The investment objective of the fund is to provide long-term capital appreciation by investing predominantly in equity and equity-related securities of Defence & allied sector companies.

The fund is suitable for investors who are seeking to generate long-term capital appreciation/income, and want investment predominantly in equity and equity related instruments of defence and allied sector companies.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

If you have any mutual fund queries, message ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts. Do share your questions on ETMFqueries@timesinternet.in along with your age, risk profile, and Twitter handle.

INDIO, Calif. — Colombian superstar Karol G turned heads and sparked social media frenzy Sunday night when she took the main stage at the Coachella Valley Music and Arts Festival in a daring gold stringy bikini that perfectly captured the high-energy, sensual vibe of her groundbreaking performance.

The 35-year-old singer made history as the first Latina artist to headline the iconic desert festival, closing out Weekend 1 on April 12 with a visually stunning, emotionally charged 90-minute set that blended reggaeton anthems, surprise guests and powerful messages of Latin pride. Her barely-there gold bikini, part of multiple costume changes, quickly became one of the most talked-about fashion moments of the 2026 edition.

The sparkling gold string bikini top and coordinating bottoms featured delicate chains and fringe details, radiating confidence under the desert lights. Karol G paired the look with her signature sultry choreography, performed alongside a troupe of dancers in a segment evoking a primal, high-energy aesthetic. As she moved across the stage, the outfit shimmered, drawing instant comparisons to her bold Playboy cover shoot earlier in the year and cementing her reputation for unapologetic sensuality.

Festivalgoers and viewers watching the live stream on YouTube erupted in cheers as Karol G emerged in the gold ensemble during an early high-octane portion of the show. The look soon transitioned into flowing skirts, open shirts and vibrant Colombian-inspired pieces, including a feather headdress and a top and skirt in the colors of the Colombian flag for her “Tropicoqueta” segment. One moment saw her and dancers transformed into “water goddesses” in itsy-bitsy silver bikinis inside a shallow illuminated pool carved from stone.

“Gold bikinis and textures soon gave way to flowing skirts, open shirts, fans and vibrant color,” observers noted, highlighting how Karol G quite literally carried Colombia with her throughout the night. The outfit changes — at least six in total — complemented an ambitious production featuring an ancient-looking adobe house stage design, a gigantic macaw prop and dramatic water effects.

Karol G, born Carolina Giraldo Navarro, opened by introducing herself warmly to the crowd as “Carolina from Colombia” and celebrated her milestone. She delivered hits including “Latina Foreva,” “Un Gatita Me Llamo,” “Oki Doki,” “Tá OK,” “El Makinón” (with special guest Mariah Angeliq), “S91” and a powerful cover of Gloria Estefan’s “Mi Tierra.” Surprise appearances from Becky G for a mariachi version of “Mamiii,” reggaeton pioneer Wisin, and Cigarettes After Sex’s Greg Gonzalez for the premiere of “Después de Ti” added star power.

In one of the night’s most emotional moments, Karol G addressed the audience during “Raise Your Flags,” waving Colombian colors and delivering a speech on Latin identity and resilience. She also paid homage to Latin music icons in a medley reminiscent of her 2022 Coachella set, while dancing on elaborate sets and interacting closely with fans at the barrier.

The performance capped a strong Weekend 1 headlined earlier by Sabrina Carpenter on Friday and Justin Bieber on Saturday. Coachella 2026, running April 10-12 and 17-19 at the Empire Polo Club, sold out quickly after the lineup announcement featuring Karol G alongside Major Lazer, Young Thug and others. She is scheduled to repeat the headline slot on April 19 for Weekend 2.

Fashion commentators described the gold stringy bikini as “too bold” for some traditional tastes but perfectly aligned with Karol G’s “Bichota” persona and the festival’s anything-goes desert spirit. The look echoed her recent Playboy Spring issue cover, where she embraced sensual, undone aesthetics in various bikini and lingerie styles, generating buzz ahead of her Coachella appearance.

Social media exploded with reactions, with fans posting side-by-side comparisons of the gold bikini moments and praising the confidence and choreography executed by Parris Goebel. Clips of Karol G in the shimmering ensemble, hair blowing in the wind while surrounded by dancers, circulated rapidly on Instagram, TikTok and X.

The outfit choice also tied into broader themes of empowerment. Karol G has long used fashion to celebrate body positivity and Latin culture, often opting for revealing, glamorous looks that challenge norms while owning her sexuality. At Coachella, the gold bikini segment matched a “primal” portion of the show, amplifying the raw energy of her reggaeton and urban pop catalog.

Behind the scenes, Karol G revealed she rehearsed nonstop for four months to prepare for the ambitious production. The set featured over a dozen background dancers, intricate lighting, fireworks and multiple stage transformations, making it one of the most elaborate headline performances in recent Coachella history.

Critics hailed the show as fun, groundbreaking and powerful, noting Karol G’s ability to balance high production values with intimate crowd connection. Her vocals remained strong throughout, even during high-energy dance breaks and while being doused with water in the pool segment.

The historic nature of the performance added extra weight. As the first Latina headliner, Karol G represented a milestone for Latin music at the festival, which has increasingly embraced global sounds. Her set drew diverse crowds, many waving flags from across Latin America at the “Latina Foreva” art installation earlier in the day.

For fashion enthusiasts, the gold stringy bikini has already inspired festivalgoers planning outfits for Weekend 2 or future events. Similar metallic, chain-detailed and fringe-adorned pieces are trending in searches, with some fans recreating the look using accessible swimwear and accessories.

Karol G’s Coachella moment comes amid personal headlines, including reports of a split with partner Feid, yet she channeled any emotions into a triumphant, celebratory performance focused on community and heritage.

As videos and photos continue to dominate timelines, the gold bikini stands out as the visual defining Karol G’s 2026 Coachella triumph — a bold statement of confidence, culture and star power. Whether shimmering under stage lights or paired with flowing transitional pieces, the outfit underscored why she commands attention as one of Latin music’s biggest global forces.

With Weekend 2 still ahead, anticipation builds for any variations Karol G might bring. For now, her gold stringy bikini performance has secured its place among Coachella’s most memorable fashion and musical highlights, proving once again that the “Bichota” knows how to own the stage and the spotlight.

The Nifty’s sharp slide on Monday may have unsettled investors, but one technical analyst says the damage is far less serious than it looks. Nagaraj Shetti, Senior Technical Analyst at HDFC Securities, believes the index is setting up for a fresh leg higher and has identified two stocks primed for breakouts.

What the charts are saying

After rallying nearly 1,800 points in recent sessions, the Nifty pulled back sharply after news broke of a ceasefire being called off. Shetti is not reading this as the start of a new downtrend.
“The way the market has declined on Monday has not damaged the underlying uptrend,” he told ET Now. After a prolonged series of lower tops and lower bottoms, the index now appears to have formed a higher bottom, which is typically an early sign that sellers are losing control.

Shetti sees the 23,500 to 23,400 zone as strong support on the downside. On the upside, a decisive move above 24,000 to 24,100 would open the door to 24,500 in the near term. For now, he describes today’s fall as a technical dip within a broader recovery.

Stock pick one: Glenmark Pharmaceuticals

Shetti’s first trade idea is Glenmark Pharmaceuticals, currently consolidating after recovering well from lower levels. The stock is sitting at the edge of a breakout above the consolidation range, with the broader chart pattern looking constructive.

Buy level: Rs 2,205
Target: Rs 2,310
Stop loss: Rs 2,150
The risk-reward on this trade is straightforward. A breakout above the consolidation zone at around Rs 2,210 would confirm the move, with roughly 105 points of upside against a 55-point downside risk.

Stock pick two: Oberoi Realty

The second idea comes from the real estate sector. Oberoi Realty has staged a sharp recovery, gapping up from lower levels with strong momentum. Crucially, the gap has remained open over three to four subsequent sessions, a sign that buyers are defending the move rather than fading it. The stock has also reclaimed its 200-day exponential moving average, a widely watched indicator of longer-term trend direction.
Buy level: Rs 1,684 (current price)
Target: Rs 1,800
Stop loss: Rs 1,630

The stock’s technical setup is among the cleaner ones in the broader market right now, with a confirmed breakout and a clear invalidation level.

The bigger picture

Shetti’s read on the market is one that many technical analysts will find reassuring. Short-term volatility driven by geopolitical headlines is difficult to time, but it rarely changes the structure of a chart that was already in recovery mode. The formation of a higher bottom on the Nifty after months of lower lows is a meaningful shift.

The key levels to watch are now well defined. A hold above 23,400 keeps the bullish case alive. A close above 24,100 would likely bring fresh momentum buyers into the market and put 24,500 firmly in sight.

For investors sitting on the sidelines, the message from the charts is that the risk of missing the move is starting to outweigh the risk of entering too early. Quality setups like Glenmark and Oberoi Realty, with defined entry points and stop losses, offer a disciplined way to participate without taking on undue directional risk.

BEIJING — As China pushes aggressively into artificial intelligence under its latest five-year plan, a mix of tech giants and specialized startups is reshaping the global landscape. With over 6,000 AI firms and a core industry scale exceeding 1.2 trillion yuan ($171 billion) in 2025, the country is closing gaps with U.S. rivals through cost-efficient models, domestic chip breakthroughs and widespread adoption.

The 2025 Hurun China Artificial Intelligence Enterprises Top 50 highlighted a seismic shift: AI chip companies claimed seven of the top 10 spots, underscoring Beijing’s drive for self-reliance amid U.S. export curbs. Cambricon topped the list with a 630 billion yuan valuation, followed by GPU makers Moore Threads and MetaX. Yet consumer-facing giants and large language model (LLM) developers continue to dominate applications, from chatbots to autonomous systems.

Here are 10 leading AI companies in China making waves in 2026, ranked by a blend of market impact, innovation, valuation and recent performance:

1. Cambricon Technologies The Beijing-based chipmaker leads China’s AI hardware push as the “Nvidia of China.” Its revenue surged 43-fold in the first half of 2025, powering everything from data centers to edge devices. Cambricon’s processors are central to national computing power goals, which hit 1,590 EFLOPS. With strong government ties and Beijing’s 19 companies on the Hurun list, it remains the valuation king at 630 billion yuan. Analysts see it as pivotal for reducing dependence on foreign semiconductors.
2. Alibaba Group Alibaba has evolved from e-commerce leader into an AI infrastructure powerhouse. Its Qwen series, including the latest Qwen3 models, ranks among the world’s top open-source LLMs, excelling in multimodal tasks, reasoning and agentic AI. Qwen leads in cost-efficiency and adoption, with Alibaba Cloud serving as the backbone for enterprise deployments. Heavy R&D investment — 67 billion yuan — fuels cloud AI, smart e-commerce and accessible tools. In 2026, Alibaba eyes agentic breakthroughs and global developer ecosystems.
3. Baidu A pioneer in Chinese AI, Baidu integrates search, cloud and autonomous driving. Its ERNIE 5.0 model topped domestic leaderboards with massive parameter counts, while Apollo robotaxis advance commercialization. Kunlunxin chips complement its full-stack approach. Despite competition, Baidu’s ecosystem reach and March 2026 Player of the Month-style model updates keep it competitive. It allocated significant funds for Lunar New Year promotions of its Ernie chatbot.
4. Huawei Huawei’s Ascend 910 series AI chips and Pangu models power industrial and government applications. Facing sanctions, the company scaled domestic production aggressively, aiming for hundreds of thousands of units. HarmonyOS integration and cloud services amplify its stack. Huawei leads in “AI+” initiatives for manufacturing and smart infrastructure, aligning with national self-reliance goals. Its parallel computing push positions it for embodied AI and robotics growth.
5. ByteDance The TikTok parent leverages its content empire for consumer AI dominance. Doubao, its chatbot, hit 100 million daily active users during the 2026 Lunar New Year holiday, winning the “AI red envelope” marketing war with generous subsidies. Proprietary Seed models excel in video generation and recommendation systems. ByteDance invests heavily in content AI while eyeing Southeast Asia expansion. Its closed-source strategy contrasts with open-source rivals but drives user engagement.
6. Tencent WeChat’s operator embeds Hunyuan LLMs across messaging, gaming and social platforms. Though sometimes seen as trailing in frontier models, Tencent poured billions into AI infrastructure and reorganized teams for better training and data systems. Its ecosystem serves over 1 billion users, enabling seamless agentic AI integration. Investments in computer vision via stakes like SenseTime bolster its portfolio. Tencent doubled down on promotions during holidays to boost adoption.
7. Zhipu AI This Beijing LLM specialist earned praise as “the world’s first publicly listed LLM company” after its Hong Kong IPO. GLM models, including GLM-5 updates, top open-source leaderboards in creative writing, programming and reasoning. Backed by major investors, Zhipu focuses on foundational models for language, voice and multimedia. Its rapid rise reflects the youth of China’s AI sector — average company age just 12 years on the Hurun list.
8. Moonshot AI Founded in 2023, Moonshot quickly became a unicorn with Kimi models emphasizing long-context understanding and agent coordination. Its K2.5 release claimed strengths in multimodal tasks. Heavy funding from Alibaba, Tencent and others fueled growth. Moonshot represents the new wave of agile startups challenging incumbents with efficient, high-performance models tailored for complex reasoning.
9. SenseTime A veteran in computer vision, SenseTime powers facial recognition, smart cities and autonomous tech. Its SenseNova platform expands into generative AI and enterprise solutions. Despite past challenges, ongoing investments and applications in urban traffic, surveillance and healthcare keep it influential. SenseTime benefits from China’s “AI+” push into real-world infrastructure.
10. iFlytek The speech and natural language processing leader evolves with its Spark Big Model. iFlytek excels in voice AI for education, translation and accessibility. Ranked high on valuation lists at around 130 billion yuan, it bridges traditional strengths with modern LLMs. Its technology supports broad adoption in public services and consumer devices amid national AI integration goals.

Other notable mentions include MiniMax (strong IPO performance and video models), DeepSeek (cost-efficient open-source breakthroughs), Moore Threads and MetaX (GPU leaders), and startups like Baichuan AI and StepFun. Beijing dominates with 19 firms on the Hurun list, followed by Shanghai.

China’s AI momentum stems from massive state support, including the “AI+” initiative and the 15th Five-Year Plan’s emphasis on breakthroughs in chips, quantum tech and humanoid robots. Domestic computing power surged, with policies favoring local chips in data centers. Companies race to ship model updates, as seen in pre-Lunar New Year pushes for GLM-5, M2.2 and others.

Challenges persist: U.S. restrictions spur innovation but raise costs; many startups remain unprofitable despite high valuations and IPO surges in Hong Kong. Agentic AI, multimodal models and embodied intelligence represent the next frontier, with Chinese firms claiming strong positions in global rankings for efficiency and adoption.

Voters and analysts note the sector’s vibrancy. While Cambricon and chip firms lead hardware valuations, platform giants like Alibaba, ByteDance and Tencent drive daily usage through super-apps. Open-source efforts from Alibaba’s Qwen and others boost global influence, even as some shift toward closed models for monetization.

As 2026 unfolds, China’s AI companies are not just catching up — they are redefining competition through scale, speed and integration into the real economy. From factory floors to consumer phones, AI is becoming foundational infrastructure. The top 10, and dozens more, position China to lead in applied AI even as frontier research remains fiercely contested globally.

The coming years will test whether hardware self-sufficiency and ecosystem depth can translate into sustained leadership. For now, the surge continues, fueled by policy, capital and relentless iteration.