Indian equities recovered some ground around midday on March 20, 2026, after the previous session’s sharp fall, with benchmarks staging a measured rebound as crude oil cooled and global cues steadied. The Nifty was above 23,200, up close to 0.95%, while the Sensex was around 74,880, higher by about 0.9%. The relief was visible but it was not uniform. Some sectors moved with conviction, others merely followed along, and a few stocks moved as if the broader market did not exist.

Here are the top movers and shakers at this hour – 

Oil refining stocks: Reliance, IOC, BPCL, HPCL

Oil refining stocks moved higher, with gains ranging between 2% and 6% by midday.

Reliance Industries share price rose about 3.26%.

Indian Oil Corporation share price gained around 3.78%.

Bharat Petroleum Corporation share price was up about 3.44%.

HPCL share price advanced nearly 6.2%.

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Crude oil prices eased to around $105 per barrel after spiking to $119 in the previous session. Strikes on Iran’s South Pars gas field and retaliation across the region have kept energy markets volatile.

Tata Power

Tata Power Company share price gained about 3.5% by midday, after touching higher levels earlier.

The company signed a power purchase agreement with the Gujarat government for its Mundra plant, allowing long-term supply to resume. That plant had been idle for months after the withdrawal of an emergency compensation mechanism tied to imported coal costs.

The company is also moving ahead with a 40% stake acquisition in Dorjilung Hydro Power Limited, with an initial investment of Rs 50 crore out of a planned Rs 1,572 crore. Alongside this, the Cabinet has approved a small hydro power scheme with an outlay of Rs 2,585 crore.

Brainbees Solutions (FirstCry)

Brainbees Solutions share price surged nearly 20%, hitting its upper circuit by midday.

On March 13, FirstCry announced the expansion of its ‘Qwik’ delivery service across select pincodes in Bengaluru, Pune, and Hyderabad. Parents in these cities can now access a wide range of baby and kids’ products, including apparel, footwear, fashion accessories, consumables, baby gear, and toys delivered in less than three hours.

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Tata Steel, JSW Steel

Several steel counters including index stocks like Tata Steel and JSW Steel are up significantly in intra-day trade. Most stocks have gained over 3% today. International brokerage house, Nomura has a Buy on both these stocks and maintain “bullish stance on India’s steel sector.” The brokerage house sees “limited cost impact amid Middle East tension.” They believe that “Indian steel producers appear relatively well-placed to navigate potential input cost volatility.”

Mangalore Refinery and Petrochemicals (MRPL)

Mangalore Refinery And Petrochemicals share price rose about 6.5% by midday.

The stock moved higher following reports that a Russian oil tanker, initially headed to China, was diverted to India and chartered by the company. The vessel, carrying Urals crude, is expected to arrive at New Mangalore Port shortly.

PSU Banks

The Nifty PSU Bank index gained close to 3.8% by midday.

Stocks across the pack moved higher. Canara Bank led with gains of around 5%, while Union Bank of India, Bank of Maharashtra and Indian Bank rose over 4% each. State Bank of India, Bank of Baroda, Punjab National Bank and others added between 3% and 4%.

Electrosteel Castings, IOL Chemicals, Gallantt Ispat

Electrosteel Castings share price gained about 4.68% by midday.

IOL Chemicals and Pharmaceuticals share price rose by around 1.94%.

Gallantt Ispat share price was up about 1.49%.

The common thread here is promoter activity. Electrosteel’s promoter entity acquired 2.05 crore shares worth over Rs 143 crore, increasing its stake by roughly 3.32%. IOL Chemicals saw its promoter purchase 16.20% stake through a large transaction involving 4.75 crore shares.

Samvardhana Motherson International

Samvardhana Motherson share price gained about 1.24% by midday.

The company approved a joint venture with Hellmann Worldwide Logistics, with a 51% stake to be held by the company. The entity will be based in Dubai, with an authorised capital of $10 million.

In addition, the company declared an interim dividend. The stock has not performed strongly in recent months, down around 13% over a month, but developments like these begin to stabilise sentiment, even if gradually.

Network People Services Technologies (NPST)

Network People Services Technologies share price surged about 8.7% by midday, after hitting higher levels earlier.

The move followed a mandate win from a cooperative bank for deploying its UPI Switch infrastructure under its Bank-in-a-Box offering. The model allows banks to deploy payment infrastructure without heavy upfront costs while generating recurring revenue for the company.