The markets are in the red, pulled lower by Index heavyweight RIL. The Nifty 50 hovered around the 26,170 zone while the Sensex slipped over 300 points, trading near 85,050. While the Index movement was stuck in a range, individual stocks were making decisive moves, some sharply lower, a few pushing back up, and others simply struggling to hold ground.
Here are the top movers and shakers at this hour:
Trent
Shares of Trent were among the sharpest laggards at midday, tumbling as much as 8.3% after the company’s December-quarter business update failed to reassure investors who had grown used to relentless growth.
Standalone revenue rose 17% year-on-year to Rs 5,220 crore, a solid number on paper but below street estimates. Concerns around demand normalisation and margin sustainability weighed on investor sentiment. The company added 17 Westside stores and 48 Zudio stores during the quarter, taking its total footprint to 278 Westside and 854 Zudio outlets, including overseas locations. Global brokerages acknowledged faster store additions but flagged that growth expectations, not absolute numbers, were doing the damage.
Reliance Industries
Shares of Reliance Industries corrected sharply, falling as much as 3.8%, a day after touching a record high. The decline followed the company’s forceful denial of a report claiming that Russian crude shipments were headed to its Jamnagar refinery.
Reliance stated plainly that it has neither received Russian crude in recent weeks nor expects any in January.
NALCO
National Aluminium Company share price jumped nearly 5% intraday as aluminium prices hit a record high. The share price of NALCO delivered over 29% return in the last 1 month and clocked 84% gains in the last 6 months. On a 1-year basis, NALCO is up 73%. Production caps in China coupled with high demand for this key industrial metal has led to the sharp surge in aluminium prices.
Tata Motors Passenger Vehicles
Shares of Tata Motors Passenger Vehicles slipped as much as 3.6% after Jaguar Land Rover reported weak wholesale numbers for the December quarter.
Wholesale volumes plunged 43.3% year-on-year, impacted by a cyber incident and softer demand across key markets including North America, Europe, and China. While premium models such as Range Rover Sport and Defender continued to dominate the mix.
Dabur India
Shares of Dabur India dropped 4% after the company’s quarterly update pointed to mid-single-digit revenue growth. While management spoke of demand recovery and improving sentiment, the market appeared unimpressed.
Rural demand continued to outperform urban consumption, and GST adjustments were cited as supportive, but investors wanted more than reassurance.
IndusInd Bank
Shares of IndusInd Bank climbed as much as 2.4% after the lender released its December-quarter business update. The reaction was mixed but ultimately tilted positive.
Net advances declined 13.1% year-on-year, while deposits fell 3.8%, numbers that would normally invite selling. However, investors appeared to focus on stability rather than growth. Retail and small business deposits held steady, and the bank reiterated operational discipline. The CASA ratio dropped to 30.3%, down from 34.9% last year.
NTPC Green Energy
Shares of NTPC Green Energy were down 1.2% even as the company announced fresh commercial capacity from its Khavda solar project.
Incremental commissioning updates no longer excite markets on their own. Investors appear more focused on returns and execution timelines rather than capacity announcements, especially amid a tougher outlook for renewables.