Indian equities were under pressure in midday trade, with benchmarks slipping despite pockets of sharp stock-specific action. The Nifty was hovering around the 25,250 mark, marginally down, while the Sensex was trading near 82,000, lower by roughly the same margin.
Select consumer durables stocks moved higher, metal counters cracked after a brutal reversal, telecom saw aggressive buying, and railway-linked names stayed in focus ahead of the Union Budget.
Here are the top movers and shakers at this hour:
Hindustan Copper
Hindustan Copper share price fell about 9% by midday after global copper prices turned volatile and exchanges raised margin requirements, triggering heavy profit booking.
The stock reversed sharply after hitting an upper circuit in the previous session. According to market reports, CME raised margin requirements on copper trades after prices surged to record highs, forcing leveraged positions to unwind. The sell-off came despite copper remaining strong in both domestic and international markets.
Copper prices have climbed sharply in recent months, driven by demand from power grids, electric vehicles, renewable energy installations and data centres. Hindustan Copper, which has emerged as a direct proxy to the metal’s rally, has seen outsized gains over the past year, making it vulnerable when sentiment turns even briefly cautious.
Vedanta
Vedanta share price slipped over 8% by midday after metal stocks came under broad selling pressure despite strong December quarter earnings.
The stock tracked the sharp fall across the metal pack, where recent outperformers saw aggressive selling. Vedanta had reported a 60% year-on-year jump in consolidated profit for the December quarter, supported by higher base metal prices and record output in key segments. Revenue also rose strongly, and management flagged the quarter as a milestone in terms of operating performance.
Vodafone Idea
Vodafone Idea share price rose about 10% by midday after the company said it plans to invest Rs 45,000 crore over the next three years to return to a growth path.
The debt-laden telecom operator said the investment will be directed towards aggressive network expansion, conversion of 2G sites and strengthening 4G and 5G coverage across priority circles. Management said the capital expenditure plan is in addition to investments already made over the past six quarters.
In its December quarter update, Vodafone Idea reported a narrower net loss and a rise in average revenue per user, aided by customer upgrades. The company also highlighted recent fund-raising efforts and government relief measures related to adjusted gross revenue dues, which it said mark an inflection point for the business.
Metal stocks
Metal stocks declined sharply by midday after extreme price swings in global markets led to widespread profit booking.
The Nifty Metal index was trading about 4.5% lower by midday, with selling pressure visible across most constituents. Hindustan Zinc was down nearly 9%, while NALCO declined over 8% and Hindalco Industries slipped close to 6%. Copper prices, while still strong on a longer-term view, have seen sharp intraday moves.
Railway stocks
Railway stocks showed mixed movement by midday as budget expectations kept the sector in focus.
Garden Reach Shipbuilders & Engineers rose about 7% after reporting strong December quarter numbers, with revenue and profit posting sharp year-on-year growth. Titagarh Rail Systems gained around 1.5%, while RVNL and Jupiter Wagons slipped modestly amid broader market weakness. Indian Railway Catering & Tourism Corporation traded marginally higher.
The Economic Survey noted steady freight momentum and underlined the role of railways in supporting industrial activity, keeping attention firmly on the sector ahead of the Union Budget.
MTAR Technologies
MTAR Technologies share price rose nearly 8% by midday after the company reported a sharp jump in December quarter profit.
The precision engineering firm said profit more than doubled year-on-year, supported by execution across clean energy, space and defence segments. Revenue growth and improved margins added to positive sentiment, with the stock touching a fresh high earlier in the session before paring some gains.
Dixon Technologies
Dixon Technologies share price was marginally lower by midday after the company flagged softer smartphone shipments in the post-festive quarter.
The electronics manufacturer said revenue from its mobile and EMS division declined due to high inventory levels and rising memory costs, which weighed on volumes. Management indicated that demand conditions remain watchful as the industry adjusts after a strong festive season.
Blue Star
Blue Star share price rose nearly 4% by midday after the company said it expects a strong March quarter for its room air conditioner business.
The country’s leading air-conditioner maker said demand momentum is improving after a challenging first three quarters of the year. In an investor presentation, the company flagged plans to raise room AC prices in the fourth quarter to offset rupee depreciation and higher commodity costs. Blue Star said dealer network expansion is progressing as planned and inventory levels have normalised following the energy-label change effective January 1, 2026.
For the December quarter, revenue rose 4% year-on-year to Rs 2,925 crore, while net profit declined 39% to Rs 81 crore due to cost pressures. Operating performance remained stable, with EBITDA rising 5% and margins improving slightly. Management said order bookings in commercial air conditioning remain healthy and demand from factories and data centres continues to provide support.