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Employing {\it ab initio} electronic structure calculations we extensivelystudy ternary Heusler compounds having the chemical formula X$_2$X$^\prime$Z,where X = Mn, Fe or Co; Z = Al or Si; and X$^\prime$ changes along the row of4$d$ transition metals. A comprehensive overview of these compounds, addressingthe trends in structural, electronic, magnetic properties and Curie temperatureis presented here along with the search for new materials for spintronicsapplications. A simple picture of hybridization of the $d$ orbitals of theneighboring atoms is used to explain the origin of the half-metallic gap inthese compounds. We show that arrangements of the magnetic atoms in differentHeusler lattices are largely responsible for the interatomic exchangeinteractions that are correlated with the features in their electronicstructures as well as possibility of half-metallicity. We find sevenhalf-metallic magnets with 100\% spin polarization. We identify few othercompounds with high spin polarisation as "near half-metals" which could be ofpotential use in applications as well. We find that the major features in theelectronic structures remain intact if a 3$d$ X$^{\prime}$ constituent isreplaced with an isoelectronic 4$d$, implying that the total number of valenceelectrons can be used as a predictor of half-metallic nature in compounds fromHeusler family.

Systematic understanding of half-metallicity of ternary compounds in Heusler and Inverse Heusler structures with 3$d$ and 4$d$ elements