The domestic equity market traded on a subdued note by midday on July 28 as investors assessed a fresh set of quarterly earnings alongside company-specific developments. The Nifty was hovering around the 24,018 level, while the Sensex was hovering near 76,884. Although the benchmark indices remained marginally higher, stock-specific action dominated the session.
Here are the top movers and shakers at this hour:
Hindustan Unilever
Hindustan Unilever Ltd. share price declined more than 4% by midday after the FMCG major reported a mixed set of June-quarter numbers. Consolidated net profit fell 3% year-on-year to Rs 2,673 crore compared with Rs 2,756 crore in the corresponding quarter last year, with the company attributing the decline to a one-off tax credit recorded during the period. Revenue from operations, however, increased 10.05% year-on-year to Rs 17,341 crore from Rs 15,757 crore a year earlier, indicating continued demand across its product portfolio.
Coforge
Coforge Ltd. share price surged more than 9% by midday after the technology company reported a strong June-quarter performance and announced an interim dividend. Revenue increased 49% year-on-year to Rs 5,527.7 crore, while EBITDA rose 74% to Rs 1,123.3 crore, with EBITDA margin expanding by 285 basis points to 20.3%. EBIT climbed 101% year-on-year to Rs 882.2 crore and EBIT margin improved to 16%, exceeding the company’s full-year guidance. Profit after tax jumped 110% year-on-year to Rs 518.6 crore.
Renewable Energy Stocks
Renewable energy stocks remained under pressure by midday, with Suzlon Energy, Adani Green Energy, NTPC Green Energy, Premier Energies and ACME Solar Holdings trading in the red even as the broader market held on to modest gains. Suzlon Energy share price declined more than 2% ahead of its board meeting scheduled to consider the June-quarter results. Last week, the company announced a 201.6 MW order from Waaree Forever Energies Pvt Ltd, the independent power producer arm of the Waaree Group, under which it will install 64 units of its S144 wind turbine generators with a rated capacity of 3.15 MW each in Andhra Pradesh. NTPC Green Energy share price slipped around 2% and extended its recent weakness, with the stock remaining below its April peak.
Godfrey Phillips India
Stock price of Godfrey Phillips India fell more than 6% by midday after investors reacted to a sharp decline in June-quarter profitability despite a surge in revenue. Consolidated net profit dropped 44.3% year-on-year to Rs 198.39 crore, even as revenue from operations more than doubled to Rs 3,819.56 crore. The earnings were weighed down by a steep increase in excise duty following changes introduced under the Central Excise (Amendment) Bill, 2025. Excise duty on manufactured tobacco products was raised from 25% to 40%, while duty on smoking mixtures for pipes and cigarettes increased from 60% to 325%.
Larsen & Toubro
Stock price of Larsen & Toubro gained marginally by midday after the engineering major announced the completion of a Framework Cooperation Agreement with TenneT for a two-gigawatt offshore wind programme classified as an ultra-mega project, implying an order value exceeding Rs 15,000 crore. Executed in consortium with Hitachi Energy, the agreement covers six projects and future opportunities under TenneT’s high-voltage direct current programme. The consortium will continue work on the IJmuiden Ver Alpha and Nederwiek 1 projects in the Netherlands while beginning execution of Nederwiek 3 in the Netherlands and LanWin 5 in Germany.