Indian equity markets were trading with a positive bias on April 17, with the Nifty hovering above the 24,250 level, up approximately 0.37%, and the Sensex has gained 0.39% by midday. Sectoral action was concentrated in FMCG, automobiles and cigarettes, while the IT space remained under pressure following earnings releases and global concerns around artificial intelligence-linked disruptions.
Here are the stocks that were making the most significant moves by midday on April 17.
VST Industries, ITC and Godfrey Phillips
Cigarette stocks attracted substantial interest on April 17, with the trigger being VST Industries‘ quarterly numbers reported a day earlier on April 16. VST Industries posted a sharp increase in net profit for Q4FY26 to Rs 116.7 crore from Rs 53 crore in the same period last year. Revenue grew 30.9% year-on-year to Rs 457 crore, EBITDA came in at Rs 208 crore. Net cigarette revenue rose to Rs 1,151 crore against Rs 921 crore in the corresponding period, while revenue from cigarette operations specifically stood at Rs 631 crore in Q4FY26.
The strong performance produced a spillover effect across the broader cigarette category. ITC, the largest cigarette company in India by a wide margin, rose approximately 1.5% by midday. Godfrey Phillips gained approximately 4%. ITC, beyond the cigarette business, has been making progress on the demerger of its hotels segment, and stability in the taxation regime for cigarettes has removed an overhang that had been weighing on the stock for an extended period. The company also offers a dividend yield of approximately 4%, which continues to attract buying during periods of broader market volatility.
FMCG stocks
Shares of fast moving consumer goods (FMCG) companies were in focus with the Nifty FMCG index up nearly 3% to 49,671.85 on the National Stock Exchange (NSE) in Friday’s intra-day trade on value buying. Hindustan Unilever (HUL), Colgate-Palmolive, Emami, Radico Khaitan, Dabur India and United Spirits from the FMCG index were up in the range of 3% to 6% in intra-day trade.
Wipro
Wipro share price fell approximately 2.75% by midday on April 17, underperforming both its IT sector peers and the broader market on elevated volumes more than 1.74 times the normal traded volume touching a low of Rs 202.60 before recovering slightly. The market capitalisation stood at approximately Rs 2,14,490 crore at these levels. The selling came a day after the company announced its quarterly results and disclosed that its promoters would participate in a Rs 15,000 crore share buyback at Rs 250 per share. The buyback price represents a 19% premium to the current market price, and Jefferies noted that the buyback is broadly in line with the quantum of previous repurchase programmes, supplementary to the Rs 11 per share dividend paid across FY26. Despite these capital return measures, Jefferies maintained a target of Rs 180 for the stock. Organisational restructuring concerns and senior management exits are clouding the near-term picture, and the stock continues to lag peers like Infosys and TCS on large deal momentum.
Rail Vikas Nigam (RVNL)
Rail Vikas Nigam rose 5.35% by midday on April 17 after the company announced that it had emerged as the lowest bidder (L1) for an EPC order from East Coast Railway for the construction of key bridges on the third and fourth lines between Nergundi-Barang and Khurda Road–Vizianagaram on the Bhadrak–Vizianagaram section.
Bharat Electronics (BEL)
Bharat Electronics gained approximately 1.3% by midday on April 17, following receipt of a fresh Rs 2,500 crore order for advanced electronic warfare systems from the Ministry of Defence. BEL’s order backlog now stands at approximately Rs 75,000 crore, which provides revenue visibility stretching out roughly three years. For a defence public sector undertaking, order backlog depth is the single most important metric because it determines the degree of earnings predictability available to the market.
HDFC Life Insurance
At the time of writing, HDFC Life Insurance Company Life shares were trading at Rs. 613.3 on the NSE, down 2.87%, with a market capitalisation of around Rs. 1.32 lakh crore. The stock has underperformed, declining 17% over the past six months.
The current trend suggests weakness in momentum, as the stock is trading below both its 50-day and 200-day moving averages. However, it is still trading above its 52-week low of Rs. 555.1.
Asian Paints
Asian Paints recovered earlier losses to trade approximately 2.9% higher by midday on April 17. The catalyst was a global easing in raw material costs, particularly for titanium dioxide, which is one of the primary inputs in paint manufacturing. When titanium dioxide prices ease, the gross margin structure of paint companies improves, and Asian Paints, being the largest player in the Indian paint market, benefits most directly. Competition from Birla Opus has been a persistent overhang on the stock for the better part of the past two years, but the market appears to have largely priced that in, and the raw material tailwind provides a near-term margin buffer that was absent for much of FY26.
Waaree Renewable Technologies
Waaree Renewable Technologies Ltd. surged 13% by midday on April 17, reacting to a strong Q4 FY26 earnings report. Revenue from operations came in at Rs 1,102.40 crore, up 131.31% year-on-year from Rs 476.58 crore. EBITDA stood at Rs 206.82 crore, registering a 63.71% year-on-year increase, while profit after tax rose 66.08% year-on-year to Rs 155.72 crore from Rs 93.76 crore. The company’s CFO Manmohan Sharma said the firm delivered a consistent and strong financial performance in FY26, driven by disciplined execution and operational efficiency. He pointed to India’s total installed renewable energy capacity crossing 274 GW, with solar contributing over 150 GW as of March 2026. Solar additions during the year surged to over 44 GW, significantly higher than the prior year, reinforcing solar’s role as the primary driver of the country’s clean energy transition.
Angel One
Angel One Ltd. share price rose 4.4% on the NSE by midday on April 17 from a previous close of Rs 292.61, reacting to Q4 FY26 earnings that showed strong sequential improvement. The company reported consolidated profit after tax of Rs 320.2 crore in Q4 FY26, up 19.2% from Rs 268.7 crore in Q3 FY26 and 83.4% higher than Rs 174.5 crore in Q4 FY25. Total gross revenue came in at Rs 1,467.2 crore, up 9.7% from Rs 1,337.7 crore in the previous quarter. Consolidated EBDAT rose to Rs 472.8 crore from Rs 405 crore in Q3 FY26, a 16.7% quarter-on-quarter improvement.
HDFC Asset Management Company (HDFC AMC)
HDFC AMC rose approximately 4% on April 17, making it the top gainer on the Nifty Capital Markets Index, which was itself up approximately 1.5% by midday. Brokerages described the company’s March quarter performance as “decent” and broadly stable. The company reported a 2.4% year-on-year decline in consolidated profit after tax to Rs 622.66 crore for the March quarter, compared with Rs 638.46 crore a year earlier. Revenue from operations, however, rose 17% to Rs 1,051.51 crore, reflecting steady business momentum. For the full financial year FY26, profit grew 16% to Rs 2,858.06 crore and revenue grew 18% to Rs 4,122.16 crore. The board has recommended a final dividend of Rs 54 per equity share for FY26, subject to shareholder approval.