The domestic equity market traded under pressure by midday on September 2, with the Nifty hovering around 23,850 and the Sensex hovering near 76,380. Rising crude oil prices and renewed tensions in West Asia weighed on the broader market, although company-specific developments kept several stocks active during the session.
Here are the top movers and shakers at this hour:
Coal India
Coal India share price gained 4% by midday on Wednesday after the state-owned miner reported a 5.5% year-on-year increase in total coal supplies to 60.60 million tonnes in August FY27. Supplies to the power sector rose 4.5% to 48.46 MT, while supplies to the non-regulated sector increased 9.6% to 12.12 MT. Total supplies during April-August reached 322.90 MT, up 6.70% from a year earlier, while the company also liquidated around 55 MT of pithead stocks. Coal India said around 76 MT of coal remains available at its pitheads as the company prepares to increase production and supplies after the monsoon.
Vodafone Idea
Vodafone Idea share price rose 4.69% by midday despite the broader market decline, after the telecom operator unveiled a new brand identity and announced Bollywood actor Shah Rukh Khan as the face of its upcoming campaign. The company said the new identity would be rolled out across consumer touchpoints, digital platforms, retail outlets and communications from September 1. The stock has also gained around 13% over the past month, while the company has placed capex orders worth Rs 9,000 crore for FY27, according to comments by chairman Kumar Mangalam Birla at the annual general meeting.
Kwality Wall’s, Vadilal Industries and Milky Mist
Kwality Wall’s share price fell 3% by midday after Reliance Consumer Products entered the ice cream market with Bombay Creamery, raising concerns over competition in an already crowded category. Vadilal Industries share price was down 3.07% in early trading, while Milky Mist share price gained 10% and hit the upper circuit after reporting a nearly 10-fold increase in net profit for the April-June quarter, supported by 43.6% revenue growth and a 264-basis-point improvement in EBITDA margin. Reliance plans to sell Bombay Creamery products across Western India initially before expanding nationally, with prices starting at Rs 10.
InterGlobe Aviation and SpiceJet
InterGlobe Aviation share price declined nearly 3% by midday, while SpiceJet share price fell around 2% as higher aviation turbine fuel costs continued to weigh on airline shares. ATF prices were raised 5.46% from September 1 to Rs 121.28 per litre, following a Rs 5 per litre increase in August, taking the two-month increase to Rs 11.28 per litre. Fuel accounts for around 30-40% of airline operating costs, while Brent crude also moved above $95 per barrel amid renewed tensions between the United States and Iran, adding further cost pressure on the sector.
Hero MotoCorp
Hero MotoCorp share price declined 6.8% by midday after the company reported a 2.64% year-on-year increase in total August dispatches to 5,68,398 units. The decline in the stock came despite retail demand remaining firm, with VAHAN registrations showing 19% growth over the previous year. Motorcycle dispatches, however, fell 2% to 4,93,851 units from 5,01,523 units a year earlier, keeping the monthly sales numbers under scrutiny as the company enters the post-monsoon period.