The domestic equity market remained under pressure by midday on July 24 as selling in financials and select heavyweight stocks dragged benchmark indices lower. The Nifty 50 was hovering around the 23,702 level, while the BSE Sensex was hovering near 75,796.
Here are the top movers and shakers at this hour:
Infosys
Infosys Ltd. share price declined nearly 3% by midday after the IT services major reported its June-quarter earnings and narrowed the upper end of its FY27 revenue growth guidance. Consolidated net profit increased 12.2% year-on-year to Rs 7,769 crore, while revenue rose 14% to Rs 48,211 crore.
The company now expects full-year revenue growth of 1.5% to 3% amid continued macroeconomic uncertainty. Infosys also announced that company veteran Ashiss Kumar Dash will take over as chief executive officer from April 1, 2027, following the completion of Salil Parekh’s second term. On a constant currency basis, revenue stood at US$5,082 million, rising 2.4% year-on-year and 1% sequentially.
Mphasis
The share price of Mphasis Ltd. slipped around 1% by midday after giving up early gains as investors weighed the company’s June-quarter earnings against pressure on operating margins. The midcap IT company reported a 10% year-on-year increase in consolidated net profit attributable to shareholders to Rs 489.5 crore, while revenue from operations rose 17.4% to Rs 4,384 crore.
On a sequential basis, revenue increased more than 3%, although net profit declined nearly 4%. Operating margin eased to 14.8% from 15.3% a year earlier, a factor that remained in focus despite healthy revenue growth and strong deal wins.
Cipla
Cipla Ltd. share price advanced more than 2% by midday after investors responded positively to the pharmaceutical company’s stronger sequential performance in the June quarter, even though year-on-year profitability remained under pressure.
Q1 Consolidated net profit stood at Rs 789 crore, rising 42% from Rs 555 crore in the March quarter but declining 39% from Rs 1,298 crore a year earlier. Revenue from operations increased 9% sequentially and 2% year-on-year to Rs 7,119 crore. EBITDA rose 25% from the previous quarter to Rs 1,192 crore, while EBITDA margin expanded by 214 basis points sequentially to 16.74%.
Coforge
Coforge Ltd. share price gained around 1% by midday after the IT company unveiled Coforge Nuuron, an AI Operating System designed to help enterprises move beyond standalone artificial intelligence initiatives and deploy AI-driven capabilities across their businesses. The platform brings together the company’s AI-native products, including Forge-X, evolveOps.AI, CodeInsight.AI, Data Cosmos, Quasar and BLUESWAN to create a unified operational layer connecting enterprise knowledge, workflows, decisions and actions.
The company said the platform is designed to enable organisations to deploy agentic AI at scale while maintaining governance, transparency and operational control. Adding to the positive sentiment, Coforge also announced a five-year contract worth more than US$230 million with a major European client for an AI-led transformation programme. In an exchange filing, the company said.
IndiGo
Indigo Paints Ltd. share price declined more than 2% by midday after the airline reported a weak June-quarter performance as sharply higher aviation fuel prices and rising operating costs pushed the company into a loss despite healthy revenue growth. Parent company InterGlobe Aviation posted a net loss of Rs 237 crore for the quarter, compared with a net profit of Rs 2,176.3 crore in the corresponding period last year. Revenue from operations, however, increased 20% year-on-year to Rs 24,584 crore. The company attributed the quarterly performance to a combination of higher jet fuel prices, adverse foreign exchange movements and continued geopolitical tensions in West Asia.
Swiggy
Swiggy Ltd. share price fell more than 6% by midday after the food delivery and quick commerce company proposed capping aggregate foreign ownership at 49.5% from the existing 100% to retain its status as an Indian-owned and controlled company. The proposal, which will be placed before shareholders at the company’s Annual General Meeting on August 18, is expected to allow Swiggy to directly own and sell inventory through Instamart under prevailing foreign investment rules.
Meesho
The share price of Meesho Ltd. declined around 5% by midday after investors reacted cautiously to the e-commerce company’s June-quarter earnings despite improvement across several operating metrics. The company reported a net loss of Rs 1,328 crore for the quarter, narrowing from Rs 2,894 crore a year earlier, while revenue from operations rose 48% year-on-year to Rs 3,713 crore, supported by lower cancellations, improved delivery conversion and stronger platform monetisation.
EBITDA loss narrowed to Rs 224 crore from Rs 265 crore in the corresponding quarter last year, while net merchandise value increased 34% to Rs 11,614 crore as user engagement continued to improve.