The markets have had a volatile session today. The Nifty was up 0.19% at around 25,090, while the Sensex added 0.08% to trade near 81,600 levels. However, stock-specific action dominated trading across banks, metals, autos, defence and select industrial names.
Here are the top movers and shakers at this hour:
Kotak Mahindra Bank
Kotak Mahindra Bank share price was under clear pressure. The cut was significantly deeper in early trade. However, by afternoon, the stock saw a slight recovery. It is still down nearly 3%. The decline followed a wave of brokerage commentary after the bank’s December quarter results, where concerns around net interest margins and operating leverage overshadowed otherwise steady growth metrics.
Jefferies retained a Buy rating with a target of Rs 530, pointing to 16% loan growth and 15% deposit growth, both ahead of large peers. However, it flagged that net interest income growth of 5% lagged competitors due to weaker margin performance. Motilal Oswal also stayed positive with a Buy and Rs 500 target, noting stable asset quality and expectations of margin improvement in the coming quarters. Nomura, while raising its target to Rs 460, maintained a Neutral stance, citing premium valuations and limited upside. The common thread across reports was simple: growth remains intact, but margins are yet to cooperate.
Axis Bank
The Axis Bank share price was among the top Index gainers today, up over 4.%. The rally followed a stronger-than-expected December quarter performance, with higher profit driven by solid net interest income and tighter cost control. Brokerages tracking the lender highlighted improving earnings delivery and moderation in credit costs, even as margins declined due to a shift in loan mix. The tone around the stock was constructive, with analysts pointing to stable balance sheet metrics and better operating discipline.
Hindustan Zinc
Hindustan Zinc share price was firmly higher, up nearly 3%. The stock continued to draw strength from the ongoing rally in silver prices, which has kept precious-metal-linked counters in demand. During the session, the stock touched fresh highs, extending a strong six-month run in which it has gained more than 60%. Silver’s role as a by-product of zinc and lead mining keeps Hindustan Zinc closely tied to global precious metal trends, and that linkage remains firmly in focus.
Hindustan Copper
Hindustan Copper share price gained 3%, supported by both commodity tailwinds and company-specific developments. Copper prices remain supported by expectations of structural supply tightness and demand from the energy transition and data centre infrastructure. Separately, the company recently emerged as the preferred bidder for the Baghwari-Khirkhori copper block in Madhya Pradesh, adding another layer of optimism around future resource expansion.
Mahindra & Mahindra
The share price of Mahindra & Mahindra was among the biggest drags in the auto space, sliding 4% after hitting lower levels earlier in the session. The stock weakened amid concerns linked to the India–EU free trade agreement, which could reduce import duties on European automobiles. Analysts flagged the risk of intensified competition in the premium SUV segment if duty cuts materialise, with global luxury brands becoming more accessible. Brokerage commentary suggested a potential profitability impact, particularly given Mahindra’s exposure to higher-priced SUVs such as the XUV700 and Scorpio.
Bharat Dynamics
Share price of Bharat Dynamics traded higher by midday, up 3% as defence stocks remained in focus ahead of the India–EU summit. Expectations around the signing of the EU–India Security and Defence Partnership supported sentiment, with investors positioning for deeper defence cooperation and potential participation of Indian firms in European defence programmes.
Bharat Electronics
The share price of Bharat Electronics was modestly higher, up 1%. The stock moved in line with the broader defence pack, tracking developments around the proposed security partnership and discussions on interoperability, cybersecurity and defence manufacturing collaboration between India and the European Union.
Garden Reach Shipbuilders & Engineers
Garden Reach Shipbuilders & Engineers posted stronger gains, rising 4%. The counter benefited from the same defence-related optimism, with shipbuilding and naval capability playing a central role in discussions around maritime security cooperation.
Adani Enterprises
Adani Enterprises share price was firmly higher, gaining 4%. The stock rebounded after the company clarified that it is not a party to recent legal proceedings referenced in overseas media reports. The clarification eased concerns that had weighed heavily on the group last week and prompted broad-based buying across Adani counters.
Adani Green Energy
Adani Green Energy share price also advanced, up around 3%. Renewable energy names within the group participated in the recovery as investor confidence stabilised following the clarification, with attention shifting back to operating fundamentals.
Jio Financial Services
Jio Financial Services share price was marginally higher by midday, up 0.12%. The stock remained steady after the company announced the incorporation of a wholly owned subsidiary to act as an investment manager for a proposed alternative investment fund. The development was viewed as incremental rather than transformational, keeping price action contained.
IFB Industries
IFB Industries share price was the sharpest loser in the session, down 15.19% by midday after its December quarter results disappointed the market. The company reported a 23% year-on-year decline in net profit to Rs 23.94 crore, citing the impact of new labour codes, which resulted in an exceptional charge of Rs 13.38 crore. While revenue rose over 11% to Rs 1,412.54 crore, the margin pressure and profit erosion triggered heavy selling. The stock has now lost more than a quarter of its value over the past month.