Here are the top gainers and losers in the Nifty index as of 12:14 pm:
1. Bajaj Finserv Ltd: Bajaj Finserv saw a significant jump, becoming the top gainer on the Nifty 50. Its subsidiary, Bajaj Finance, approved a fundraising of Rs 10,000 crore via QIP and preferential issue. Post the conversion of shares, Finserv's stake in the subsidiary would rise to about 53 percent. The stock closed at Rs 1,629, up 5.6 percent on the NSE.
2. Bajaj Finance Ltd: Bajaj Finance shares also jumped after the company approved a fundraising of Rs 10,000 crore via QIP and preferential issue. This move would increase Finserv's stake in Bajaj Finance to about 53 percent. The shares closed higher by 3.8 percent at Rs 8,150 on the NSE.
3. IndusInd Bank Ltd: Shares of IndusInd Bank rose over 2 percent, trading at Rs 1,422 during the session. Motilal Oswal has noted that the bank has maintained its market share of systemic advances, supported by its leadership position in the vehicle finance and MFI segments, which constitute 26 percent and 10 percent of its advances, respectively.
4. Tata Consumer Products Ltd: Tata Consumer Products experienced gains and emerged as one of the top gainers on the Nifty. The company aims for double-digit growth in its coffee business, driven by an expansion in both portfolio and reach. Shares were priced at Rs 871, reflecting a gain of about 1.5 percent on the NSE.
5. Titan Company Ltd: Titan Company Ltd shares soared, extending gains for the third consecutive day. The company's wearables business, focused on smart tech products under the Fastrack and Titan brands, is expanding its product offerings in the smartwatch and Truly Wireless (TWS) categories. Shares closed at Rs 3,305, up 2.8 percent.
On the other hand, here are some of the top losers:
1. ONGC Ltd: ONGC's stock price declined, making it the top loser on the Nifty index. In the last six months, the public sector unit has seen a return of 20 percent. Volumes were low, with only 29 lakh shares changing hands compared to the 1-week average of 1 crore shares. The shares fell by 0.38 percent to Rs 181.5 on the NSE.
2. HUL Ltd: Shares of Hindustan Unilever Ltd, the largest FMCG player in the country, traded lower in today's session, ending a four-day gaining streak. Volumes were relatively low at mid-day, with only three lakh shares changing hands compared to a monthly average of 18 lakh shares. Shares closed nearly 1 percent lower at Rs 2,499 on the NSE.
3. Bharti Airtel Ltd: Bharti Airtel's shares fell at mid-day after investors didn't react positively to the telecom major's plans to attract cricket fans ahead of the World Cup. The company launched two plans, including unlimited data for two days for Rs 99 and 6GB of additional data with one-day validity for Rs 49. Shares traded down by 0.25 percent at Rs 925 on the NSE.
4. Asian Paints Ltd: Asian Paints' shares closed lower during today's session, with trading volumes lower than the weekly average. Only 9 lakh shares changed hands compared to 10 lakh shares in the weekly average. Shares closed at Rs 3,197, down by 0.29 percent.
5. Coal India Ltd: Coal India's shares slid to Rs 287, down by 0.64 percent in today's session after trading in green in the last trading session. Volumes were low as only 39 lakh shares changed hands compared to the 1-week average of 89 lakh shares.
