Markets continue to be under pressure for the second straight day. The Nifty 50 is hovering around 25,690 while the BSE Sensex has slipped to near 83,550. Selling was broadbased and in several pockets it was sharp.
Here is a detailed look at some of the stocks that saw sharp cuts or bucked the trend and clocked gains amidst all-around caution.
Vodafone Idea
Shares of Vodafone Idea were among the most actively traded, after the beleaguered telecom operator disclosed fresh communication from the Department of Telecommunications that offered relief on the timeline for repayment of its long-pending dues. The stock surged nearly 9% intraday, hitting around Rs 12.50 per share levels before giving up gains. By midday, the stock slipped into red.
In an exchange filing, the company said it has received formal communication from the DoT outlining the repayment schedule, a development that eased immediate concerns around cash flow stress and regulatory overhang.
BHEL
The share price of Bharat Heavy Electricals recovered over 1% after sharp losses in early trade. This follows the near 11% drop in the share price yesterday after a Reuters report indicating that the Finance Ministry may consider looking into easing curb on Chinese companies bidding for government contracts. However, there is no official communication on the news and the stock is showcasing investor apprehension on the back of the news report.
Coal India
Shares of Coal India remained in focus, down 1.35% as its wholly owned subsidiary, Bharat Coking Coal (BCCL), kicked off its IPO process. BCCL raised Rs 273.1 crore from anchor investors by allotting shares at Rs 23 apiece, with participation from names such as LIC, Societe Generale, and multiple global funds.
Coal India stock had already gained nearly 12% over the past month.
Andhra Cements
Shares of Andhra Cements surged almost 10%, hitting the upper circuit, after the promoter announced plans to offload about 8.14% stake through an offer for sale at a floor price above the previous close.
The stock traded around Rs 76, extending its gains for a third straight session. Volumes spiked sharply, running far above the 30-day average. Despite the rally, the counter remains down over 6% over the past year.
IEX
Shares of the Indian Energy Exchange (IEX) witnessed significant volatility, down 7.46% on Friday following the Central Electricity Regulatory Commission’s (CERC) decision to stay its order on market coupling, a mechanism that would have unified electricity pricing across exchanges.
Defence stocks
Defence-related stocks bucked the weak broader market and traded firmly, with several names posting gains of 2% to 9% intraday. The Nifty India Defence index was up about 1.3% at midday, outperforming the benchmark indices.
Stocks such as MTAR Technologies, Mazagon Dock Shipbuilders, Garden Reach Shipbuilders & Engineers, Cochin Shipyard, Bharat Dynamics and Dynamatic Technologies were all trading higher. Larger names including Bharat Electronics, Hindustan Aeronautics and BEML also held gains of around 1%.
Elecon Engineering
Shares of Elecon Engineering hammered in trade, sliding over 13% at one point, after the company disclosed the resignation of its Chief Financial Officer, Narasimhan Raghunathan. The stock fell to around Rs 435, making it one of the worst performers of the session.
The company said the board had accepted the CFO’s resignation, effective January 31, 2026, citing personal and family commitments. He will also cease to be the key managerial person responsible for determining material events under SEBI regulations.