The benchmark indices traded higher by midday on July 17 as strong buying in financial and information technology stocks lifted the broader market. The Nifty was hovering around the 24,270 level, while the Sensex was hovering near the 77,970 mark. 

Quarterly earnings remained the biggest trigger for stock-specific action, with Jio Financial Services rallying after a robust June-quarter performance, while information technology stocks extended gains following encouraging earnings, healthy deal wins and improving management commentary.

Here are the top movers and shakers at this hour: 

Jio Financial Services

Jio Financial Services share price surged more than 6% by midday after the company reported a strong set of June-quarter earnings, supported by robust growth across its investing and lending businesses. Consolidated net profit jumped 155% year-on-year to Rs 830 crore, while revenue from operations rose 227% to Rs 2,004 crore. 

Segment-wise performance remained equally strong, with revenue from the investing business increasing 190% and lending income rising 177% compared with the corresponding quarter last year. The company also reported rising traction for the Jio Finance App, which recorded an average of around 34,000 product purchases every day during June across personal loans, credit cards, digital gold and fixed deposits.

Tech Mahindra

Tech Mahindra Ltd. share price climbed as much as 3.4% by midday after the company reported a strong June-quarter performance that reinforced optimism around its growth outlook. Consolidated net profit increased 28.4% year-on-year to Rs 1,465 crore, while revenue from operations rose 17.6% from the corresponding quarter last year to Rs 15,712 crore. 

On a sequential basis, revenue grew 4.2%, supported by broad-based demand across manufacturing, financial services, healthcare and retail. EBIT increased 9.2% quarter-on-quarter to Rs 2,264 crore, while the EBIT margin improved by 70 basis points to 14.4%. 

Wipro

Wipro Ltd. share price slipped as much as 2.35% by midday after the company’s June-quarter earnings and guidance received a mixed response from brokerages, with concerns emerging over weak near-term growth and pressure on margins. Gross revenue increased 10.6% year-on-year to Rs 24,480 crore, while net profit edged up just 0.6% from a year earlier but declined 4.7% sequentially. 

IT services revenue fell 1.2% quarter-on-quarter in constant currency terms, and the company guided for sequential revenue growth of between -1.5% and 0.5% in constant currency for the September quarter. 

IT Stocks

IT stocks traded higher by midday, with the Nifty IT index rising more than 2% at its intraday high after encouraging June-quarter earnings from leading technology companies lifted sentiment across the sector. Tech Mahindra gained around 1.5%, Infosys advanced nearly 1.6%, HCL Technologies Ltd. rose about 1.5% and Tata Consultancy Services added over 1.2%, while Wipro remained the only major underperformer, declining around 1.5% after its quarterly numbers. 

The broader rally was supported by healthy earnings from Tech Mahindra, constructive management commentary from several large companies and a series of multi-million-dollar deal wins announced by Tata Consultancy Services. HCL Technologies also strengthened sentiment after signing a seven-year agreement with The Guardian Life Insurance Company of America to accelerate artificial intelligence-led technology transformation across multiple business operations. 

WeWork

WeWork India Management shares were under pressure on the last trading day of the week, with the scrip plunging as much as 6%.WeWork India’s consolidated net loss narrowed to Rs 4.3 crore in the June quarter of FY27, as compared to a net loss of Rs 14.1 crore in the June quarter of FY26. Revenue from operations, or topline, grew 27.7% YoY to Rs 684 crore, as against Rs 535 crore in the same quarter of the previous fiscal year.

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PC Jeweller

Stock price of PC Jeweller Ltd. declined around 6% by midday after the company announced plans to raise up to Rs 1,000 crore through a Qualified Institutions Placement and approved an increase in its authorised share capital. The proposed fundraise will be carried out through the issue of equity shares or other eligible securities in one or more tranches, with a dedicated committee authorised to determine the structure, pricing and timing of the issue. The board also approved increasing authorised share capital from Rs 1,310 crore to Rs 1,460 crore by creating an additional 150 crore equity shares. Despite the decline in the stock, the company’s recent business update remained positive.

Renewable Energy Stocks

Renewable energy stocks traded in the red by midday even as the broader market remained firm, with Waaree Energies declining around 0.2%, Adani Green Energy falling about 1%, NTPC Green Energy slipping nearly 1.1% and Premier Energies losing close to 1.7%. Waaree Energies remained in focus after its subsidiary commenced operations at a 5.15 GWh Battery Energy Storage System container manufacturing facility, a move aimed at strengthening domestic energy storage manufacturing capabilities. 

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Adani Green Energy continued to draw attention after reporting operational renewable energy capacity of 20.1 GW as of June 30, with capacity additions of 848 MW during the June quarter. NTPC Green Energy also remained active after its subsidiary Ayana Renewable Power secured a 50 MW wind power project through a Solar Energy Corporation of India auction at a tariff of Rs 3.85 per kWh. Premier Energies, meanwhile, continued to witness some profit booking after recent gains despite maintaining a healthy year-to-date performance.