By midday on Thursday, the market continued to be cautious mode. The Nifty was around 25,550, while the BSE Sensex was down roughly 0.2%. Index damage looked contained, but individual stocks were anything but quiet. Tobacco, capital goods, consumer internet, oil marketing, and technology names moved sharply, each for its own reason, and the tape reflected that nervous, selective mood.
Here are the top movers and shakers at this hour:
ITC and Godfrey Phillips India
ITC share price gained 4.9% by midday, while Godfrey Phillips India jumped 10.2%, with tobacco stocks returning to their highest levels in over a month. The rebound came after weeks of pressure triggered by Parliament’s approval of the Central Excise (Amendment) Bill, 2025, which cleared the path for a steep hike in cigarette duties.
The Finance Ministry has notified an excise duty of Rs 2,050 to Rs 8,500 per 1,000 sticks, depending on cigarette length, effective February 1, over and above the existing 40% GST. Despite this overhang, buying returned as investors recalibrated expectations. Godfrey Phillips added earnings support to the move, reporting an 8.7% rise in December-quarter profit and a 15.7% jump in revenue, even as expenses climbed 18%.
Kaynes Technology
Kaynes Technology India Ltd. share price fell 2.9% at midday after the company’s December-quarter results failed to meet market expectations. Profit rose 15% and revenue increased 21%, with margins expanding to 14.8%, but that was still below what the Street had pencilled in. The stock stayed under pressure as optimism around growth collided with concerns on operating leverage.
Hitachi Energy India
Hitachi Energy India surged 13.3%, standing out as one of the session’s strongest gainers. The rally followed a sharp improvement in December-quarter performance, with profit jumping 90.3% and revenue rising 28.5%. Management commentary around accelerating electrification demand added confidence, and the stock reacted without hesitation.
Nykaa
FSN E-Commerce Ventures share price rose about 4.7% by midday after the company delivered a strong earnings performance. December-quarter profit jumped 156%, while revenue climbed 27% on the back of sustained growth in both beauty and fashion segments. GMV growth remained in the high twenties, extending a trend that has held for more than three years, and that consistency mattered to the market.
Indian Oil Corporation
Indian Oil Corporation share price was up around 0.5%, after earlier touching gains of nearly 3% to hit a fresh 52-week high. The move followed a sharp earnings beat in the December quarter. The stock has now risen for five straight sessions and remains one of the steadier performers in an otherwise uneven energy space.
IT stocks
The technology pack stayed under pressure. The broader IT index was down close to 2% by midday, extending losses for a third straight session. Tata Consultancy Services slipped about 2.1%, Infosys fell 1.4%, Wipro declined nearly 2%, while mid-cap names such as MphasiS, Mastek and Coforge dropped between 1.8% and 2.3%.