The Indian equity market was largely flat by midday on Tuesday, with headline indices struggling to find direction even as individual stocks moved sharply on deal announcements, corporate actions, and regulatory disclosures. The Nifty hovered near the 26,180 level while the Sensex hovered around 85,560.
Here are the top movers and shakers at this hour:
Ambuja Cements / ACC / Orient Cement
Orient Cement share price jumped up to 9.46%, emerging as one of the most active counters of the session after Ambuja Cements announced a sweeping consolidation plan within the Adani Group cement business.
The proposal involves merging ACC and Orient Cement into Ambuja Cements, effectively creating a single cement platform. At midday, Orient Cement was still holding gains of over 5%, while Ambuja Cements share price rose about 1.8%. ACC shares, however, slipped around 1.2%, indicating near-term concerns around merger ratios and execution.
Post-merger, ACC, Orient Cement, Penna Cement and Sanghi Industries will be folded into Ambuja, creating a combined cement capacity of 107 million tonnes per annum.
Belrise Industries
Belrise Industries share price jumped nearly 12%, hitting a fresh all-time high after a large block deal crossed the tape ahead of the session.
Roughly 5.83 crore shares, representing about 6.55% equity, changed hands at Rs 153.70 per share, according to market reports. The seller was identified as Sumedh Tools Private Limited, part of the promoter group.
Groww (Billionbrains Garage Ventures)
Billionbrains Garage Ventures share price traded steady at midday, with focus firmly on a product announcement rather than price action. The company said it has launched “Groww Lite”, a web-based emergency trading portal designed to allow users to exit or close positions during platform outages.
The move comes after recent internet and infrastructure disruptions impacted several digital platforms. By rolling out a fail-safe trading interface, Groww is attempting to address a concern that has been simmering among retail traders.
Cholamandalam Investment and Finance
Cholamandalam Investment & Finance Company share price jumped over 8%, rebounding sharply after the company issued a detailed clarification on allegations involving certain group entities.
The NBFC said there has been no change to its business outlook or guidance and emphasised that asset quality and liquidity remain strong. As of November-end, the company reported cash and bank balances of Rs 14,900 crore, a capital adequacy ratio of 19.79%, and Tier I capital of 14.53%, all comfortably above regulatory thresholds.
KSH International
KSH International share price declined about 3.65%, marking a weak market debut. The stock listed at Rs 370 against an issue price of Rs 384, leaving IPO allottees with an immediate loss.
The IPO had been subscribed 83% overall, with full subscription only in the qualified institutional buyers’ category.
Coforge
Coforge share price declined nearly 7%, making it one of the biggest losers of the session. The fall came after the company disclosed that its board will meet later this week to consider raising funds.
While the company clarified that no decision has been taken yet, the mention of potential equity issuance through routes such as QIP or preferential allotment was enough to unsettle the stock.
Granules India
Granules India share price rose about 1.5%, reacting positively to the board’s approval to raise Rs 1,462.5 crore through convertible warrants.
The company plans to issue up to 2.5 crore warrants at Rs 585 apiece on a preferential basis to promoter group and non-promoter investors. The warrants can be converted into equity within 18 months.