Indian equities are muted in afternoon trade on the last trading session of the year. The Nifty 50 hovered around the 26,150 mark, holding on to gains of just under 1 per cent, while the BSE Sensex traded near 85,300 up over 600 points. Meanwhile, individual stocks were anything but quiet, with sharp moves driven by contracts, regulatory changes, corporate actions, and year-end positioning.
Here are the top movers and shakers at this hour:
Vodafone Idea
The shares of Vodafone Idea (Vi) jumped nearly 4 percent to hit a record high on December 31 amid rising expectations of the government announcing an AGR relief for the telecom major today.
The shares of the company hit a fresh 52-week high on December 31. Vodafone Idea AGR relief today?
The Union Cabinet is expected to meet at 3 pm today to consider Vodafone Idea’s AGR relief matter, several media reports claimed. The government is likely to consider a partial waiver of interest, penalties and interest on penalties that make the majority of the telco’s adjusted gross revenue (AGR) dues, CLSA had earlier said.
Steel stocks
Tata Steel, JSW Steel, Jindal Steel jumped 2–4%. Major steelmakers moved higher at midday after the government announced a three-year safeguard duty of up to 12% on select steel imports. The move raised expectations of better pricing power and protection for domestic producers.
Tata Steel, JSW Steel, and Jindal Steel all posted solid gains, while Jindal Stainless also traded higher.
RITES
Rites share price jumped over 3% at midday after the Navratna PSU secured a fresh international contract worth $3.6 million from Berhard Development Corporation in Zimbabwe for the supply of in-service Cape Gauge diesel electric locomotives. The order, expected to be executed within three months, reinforced the company’s growing overseas order book.
The rally came on top of last week’s $35.2 million locomotive supply contract from South Africa, keeping sentiment firmly in favour of the rail consultancy and engineering firm as the year closed.
Premier Energies
Premier Energies share price jumped over 3% then traded marginally green during the midday after announcing fresh orders worth over Rs 2,300 crore in the December quarter. The renewable energy player said the contracts, awarded by domestic independent power producers, would be executed in FY27 and FY28.
Bharat Forge
Bharat Forge share price jumped over 2% and then traded marginally green during the midday. Shares of Bharat Forge moved higher after the company signed its largest-ever small arms contract with the Ministry of Defence, valued at Rs 1,661.9 crore. The deal involves the supply of over 2.55 lakh CQB carbines to the Indian Army over five years.
Waaree Energies
Waaree Energies Ltd. share price declined around 2% but then showed signs of recovery during the midday. The green energy stock remained under pressure after the resignation of its CEO, Amit Paithankar, who stepped down to pursue opportunities outside the organisation. The company announced the appointment of Jignesh Rathod as the next CEO.
Orient Technologies
Orient Technologies Ltd. share price jumped over 16% after the company announced the record date for its 1:10 bonus issue. The stock extended gains from the previous session, when shareholders approved the bonus through a postal ballot.
